Opportunities for Bipartisan Fiscal Policy in 2023
"Sound fiscal policy can make it easier for the Fed to bring inflation down without pushing the economy into a recession," writes Ben Ritz.
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"Sound fiscal policy can make it easier for the Fed to bring inflation down without pushing the economy into a recession," writes Ben Ritz.
President Biden’s request for discretionary funding for next year (fiscal year 2022) would substantially increase funding for nondefense programs, particularly in the Departments of Education, Health and Human Services, Housing and Urban Development, and Veterans Affairs.
"A fiscal commission is most likely to succeed if the broader public is involved in the process," writes Sita Slavov.
The way in which Americans have been spending their stimulus checks has differed across each round of payments.
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for Feburary 2024.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-february-2024
As the coronavirus (COVID-19) pandemic took hold, economic activity slowed and tax revenues in most states began to decline.
https://www.pgpf.org/blog/2020/12/state-tax-revenues-took-a-hit-in-the-wake-of-the-pandemic
Since April 2020, the federal government has spent an average of $9 billion per month on SNAP.
https://www.pgpf.org/blog/2021/03/how-has-the-coronavirus-pandemic-affected-federal-spending-on-snap
Compared to historical trends and other advanced economies, corporate tax revenues in the United States are low.
"Today’s CBO projections are the latest loud and clear warning about America’s unsustainable national debt," said Michael A. Peterson.
https://www.pgpf.org/press-release/2024/02/peterson-foundation-statement-on-new-cbo-report
The CARES Act granted stimulus checks to Americans to mitigate economic damage, but was it effective? Find out how stimulus checks affected the economy.