by jpitney | May 7, 2020 | Debt, Economic Policy
Former Senator Judd Gregg (R-NH) at The Hill: The deficit for this year is now projected to exceed $4 trillion. This makes the deficit approximately four times larger then any deficit ever wrung up before. The debt we will owe as a nation will exceed our gross...
by jpitney | Apr 25, 2020 | Coronavirus, Debt, Economic Policy, Uncategorized
An April 24 report from CBO: CBO has developed preliminary projections of key economic variables through the end of calendar year 2021, based on information about the economy that was available through yesterday and including the effects of an economic boost from...
by jpitney | Apr 15, 2020 | Coronavirus, Debt, Economic Policy
From the Committee for a Responsible Federal Budget: The United States entered the current public health and economic crisis facing high levels of debt and trillion-dollar deficits. Due to the effects of the crisis and legislation enacted to combat it, debt and...
by jpitney | Feb 11, 2020 | Budget, Debt
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...
by jpitney | Jan 29, 2020 | Debt, Economic Policy
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...
by jpitney | Nov 27, 2019 | Debt, Economic Policy, Uncategorized
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...
