Economy
Latest
-
The Deficit Has Never Been This High When the Economy Was This Strong
Read moreThis year, the budget deficit is projected to total about $970 billion – 4.6 percent of GDP – up from $666 billion (3.5 percent of GDP) in 2017. This...
-
3rd Quarter Growth of 3.5 Percent is Good News, But Doesn't Reflect a Sustained Boost
Read moreThe Bureau of Economic Analysis (BEA) today announced its initial estimate that the economy grew at a 3.5 percent annualized rate in the third quarter...
-
CBO Shows Faster Growth Is Important for Fixing the Debt
Read moreStrong, sustained economic growth is an important ingredient in putting the debt on a sustainable course. In addition to increasing incomes and...
-
Has the Recent Economic Boom Offset 88% of the Cost of the Tax Cut?
Read moreIn a Wall Street Journal op-ed shared by the House Ways and Means Committee, Mike Solon of US Policy Metrics makes the argument that thanks to recent...
-
Growth Just Hit 4.1 Percent – Don't Expect It To Last
Read moreThe Bureau of Economic Analysis today released its initial estimate that the economy grew at a 4.1 percent annualized rate in the second quarter of...
-
The Deficit Is Not "Coming Down Rapidly"
Read moreThis morning, White House National Economic Council Director Larry Kudlow appeared on Fox Business and made the following claim (emphasis added): "As...
-
Goldman Sachs Warns that the US Fiscal Outlook is “Not Good”
Read moreIn a report released last month by Goldman Sachs, Chief Economist Jan Hatzius describes the U.S. fiscal outlook as “not good.” If left unchanged, the...
-
CBO Economic Forecasts Are Similar to the Consensus, Unlike OMB
Read moreThe Congressional Budget Office's (CBO) analysis of the President's Fiscal Year (FY) 2019 budget found that the President's policies would still...
-
Can America Sustain the Recent Economic Boost?
Read moreKey Takeaways: The good news is that the economy is doing well; however, this is unlikely to turn into sustained growth at the same rate. Short-term...
-
It Would Take Nearly Unprecedented Economic Growth to Balance the Budget
Read moreIncreased economic growth has often been cited as a solution to our fiscal problems or as a way to offset deficit-increasing legislation. However...
-
Factchecking the Senate Budget Committee Hearing with CBO
Read moreAt least two claims in Wednesday's Senate Budget Committee hearing with Congressional Budget Office (CBO) Director Keith Hall merit fact checking...
-
Rising Rates Could Further Balloon Interest Spending
Read moreNote (5/15/2018): This blog was published before CBO's April 2018 baseline, which provides official estimates of the amount of interest that will be...