Today the federal debt limit will be reset at a level equal to the outstanding federal debt (roughly $19.8 trillion). The debt limit, which caps the government’s total borrowing authority, has been suspended since November of 2015.
Last week, the Congressional Budget Office published a blog exploring the role of fiscal policy in improving economic productivity. The subject is particularly interesting given how frequently politicians propose to pay for their agendas, be they tax cuts or spending increases, with dubious claims of improved economic growth. CBO identified four main fiscal tools that can actually result in increased growth through higher productivity:
We at The Concord Coalition would like to thank readers of the Washington Budget Report for their support over the past year and their interest in building a stronger country through greater fiscal responsibility in Washington. Happy Holidays!