The Coronavirus Pandemic Continues to Cause Record Claims for Unemployment Insurance
Since March 15, more than 65 million claims for regular unemployment insurance have been filed due to COVID-19. Find weekly updated statistics here.
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Since March 15, more than 65 million claims for regular unemployment insurance have been filed due to COVID-19. Find weekly updated statistics here.
The latest report by the CBO on the outlook for the U.S. budget and economy highlights the costs of the ongoing weakness in our economy and uncertain direction of our nation’s fiscal policies.
https://www.pgpf.org/analysis/summary-of-cbo-update-on-budget-and-economic-outlook
“America’s high and rising national debt threatens our economy, and must be included in the policy conversation this year," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
https://www.pgpf.org/press-release/2017/05/statement-on-presidents-budget
Michael A. Peterson, President and COO of the Peter G. Peterson Foundation, released the following statement as the Congressional Budget Office released its Budget and Economic Outlook for 2014-2024.
Over the next 10 years, the spending caps are projected to reduce deficits by approximately $900 billion, and the Supercommittee is charged with finding $1.5 trillion of additional savings.
https://www.pgpf.org/analysis/long-term-implications-of-the-budget-control-act-of-2011
"Tonight's SOTU represents an important opportunity for President Obama to discuss the nation’s fiscal challenges and solutions for putting the country on a better path."
“This report makes it painfully clear that our unsustainable fiscal challenges have now been accelerated. The sad truth is that our national debt now equals the size of our entire economy,” said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
https://www.pgpf.org/press-release/2020/09/peterson-statement-on-cbo-report
The latest Financial Times-Peterson Foundation US Economic Monitor, released on June 4, 2020, reveals how the coronavirus pandemic continues to have significant financial and economic impacts across wide swaths of American society.
The Peterson Foundation cited new projections which demonstrate that $1.2 trillion in deficit reduction that fails to address the fundamental drivers of our growing debt will not stabilize the level of debt relative to the economy, which is the real test of any long-term fiscal plan.
There will be a number of consequences from a gradual increase in the federal funds rate over time.