Economics
Latest
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How Would Higher Interest Rates Affect Interest Payments?
Interest on the national debt is projected to be the fastest growing part of the federal budget. We estimate, based on the Congressional Budget Office...
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2021 Inflation Totaled 6.7 Percent
The Bureau of Labor Statistics (BLS) today released Consumer Price Index (CPI) inflation data for December 2021. Based on BLS’s data, we estimate CPI...
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Reducing Build Back Better Inflation Risk
As we recently discussed, the House-passed Build Back Better Act is likely to be modestly inflationary over the next few years. Though we expect the...
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What Will Build Back Better Mean for Inflation?
With inflation on track to reach its highest annual rate since 1990, experts and advocates are in disagreement over whether the Build Back Better Act...
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State and Local Governments Flush with Cash
The Bureau of Economic Analysis (BEA) recently released data on state and local government spending and receipts in the third quarter of 2021...
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Reconciliation Unlikely to Produce $600 Billion in Dynamic Revenue
Policymakers are claiming their $3.5 trillion reconciliation package will be fully paid for by counting on $600 billion of dynamic feedback on top of...
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CBO Report Shows Infrastructure is More Pro-Growth When It's Paid For
The Congressional Budget Office (CBO) released a report today detailing the macroeconomic effects of two illustrative, $500 billion infrastructure...
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Trust Fund Solutions Would Be Pro-Growth
In our recent paper “ The Case for Trust Fund Solutions,” we showed that making the Social Security, Medicare, and highway trust funds solvent would...
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Five Reasons to Pay for New Investments
Congress and the Administration are currently negotiating and developing legislation to invest in physical infrastructure, education, and other areas...
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COVID Relief Continues to Bolster Personal Income
New data from the Bureau of Economic Analysis (BEA) for the month of April shows that disposable personal income (DPI) was 12.0 percent above pre...
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Partial Student Debt Cancellation is Poor Economic Stimulus
Last year, we estimated that fully canceling student debt would produce eight to 23 cents of economic activity for every dollar of cost and speculated...
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Interest Payments in the Federal Budget
At a projected cost of over $300 billion this fiscal year, interest payments are a significant part of the federal budget. Net interest is currently...