Sustainable Budget

Fed Chair Jerome Powell’s testimony before the House Financial Services Committee: The current low interest rate environment also means that it would be important for fiscal policy to help support the economy if it weakens. Putting the federal budget on a...

Debt

Phillip L. Swagel, CBO’s Director: As a result of the persistently large deficits, federal debt held by the public is projected to rise to $31.4 trillion at the end of 2030—an amount equal to 98 percent of GDP. At that point, debt would be higher as a percentage of...

Debt Danger

At the Federal Reserve Bank of St. Louis, Scott A. Wolla and Kaitlyn Frerking have a paper titled “Making Sense of the National Debt.”  The conclusion: The national debt is high by historical standards—and rising. People often assume that governments must...