Let’s look at the trends in discretionary spending and how effective caps are in reducing the debt.
As part of a potential deal to raise the debt ceiling, policymakers are considering rescinding remaining funding for COVID-19 relief.
The Federal Reserve plays an important role in stabilizing the country’s economy.
The Congressional Budget Office (CBO) released updated budget and economic projections, which incorporate the effects of higher interest rates, annual appropriations, and other recent legislative and economic developments.
The recent volatility in interest rates show that breaching the debt ceiling could make federal borrowing much more expensive.
The percentage of income that Americans pay in taxes can vary widely and depend on many factors.
Compared to historical trends and other advanced economies, corporate tax revenues in the United States are low.
Many options exist to reduce the imbalance between spending and revenues, including additional taxes on wealthier Americans.
Healthcare spending in the United States totaled 18.3 percent of gross domestic product (GDP) in 2021.
The United States has one of the most expensive health systems in the world.
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