FISCAL BLOG

Properly addressing the nation's aging infrastructure requires action not only at the federal level, but also at the state and local levels.

America's economic rebound from the pandemic seems to have begun, according to Phillip Swagel, the director of the nonpartisan Congressional Budget Office.

New data from the Bureau of Labor Statistics show that the labor market experienced an unexpected improvement in May.

The U.S. economy was in its longest expansion since World War II. The pandemic, however, has altered that trajectory.

The United States has generally focused more on supplementing incomes while other countries have adopted wage-subsidy programs.

A large decrease in revenues and a large increase in spending have led the Congressional Budget Office to estimate a deficit of $737 billion in April 2020.

In response to the COVID-19 pandemic, lawmakers have asked Americans to stay at home and have forced businesses to close to slow the spread of the virus.

The decrease in GDP in the first quarter was driven by a decline in consumption and investment.

The new numbers demonstrate the severe economic damage and significant fiscal implications of this unprecedented crisis.

The official unemployment rate was 4.4 percent in March 2020, up from 3.5 percent in February. That increase was the largest of any month since January 1975.