Health Care Primer
The United States health care system is larger than the gross domestic product of all but five other nations.
Analysis & Indicators
It’s Important to Distinguish Between Short-term Cyclical Deficits and Long-term Structural Deficits
July 27, 2017Not all deficits are created equal.
In designing policy responses, it is important to distinguish between “cyclical” and “structural” deficits.
Cyclical deficits are caused by a weak economy. Recessions drive down government revenue because many workers and businesses are no longer earning as much taxable income. At the same time, government spending rises because more people need assistance through programs such as Medicaid, unemployment benefits and food stamps.
CBO Analysis Raises Doubts on White House Budget
July 17, 2017The Congressional Budget Office (CBO) last week published its official analysis of the presid
House GOP Budget Ignores Trump's Budget Cuts to Domestic Agencies
July 27, 2017Bloomberg Politics
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Congress
Federal Budget
Tax Policy
President Donald Trump’s proposed budget cuts to federal agencies are about to strike out in Congress again.
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It’s Important to Distinguish Between Short-term Cyclical Deficits and Long-term Structural Deficits
July 27, 2017Not all deficits are created equal.
In designing policy responses, it is important to distinguish between “cyclical” and “structural” deficits.
Cyclical deficits are caused by a weak economy. Recessions drive down government revenue because many workers and businesses are no longer earning as much taxable income. At the same time, government spending rises because more people need assistance through programs such as Medicaid, unemployment benefits and food stamps.
Trust Fund Accounting Obscures Fiscal Problems of Social Security and Medicare
July 20, 2017Every year the trustees of Social Security and Medicare issue detailed reports on the financial status of these programs. While the trustees’ reports consistently warn that both programs face serious shortfalls, the urgency of this warning is often undercut by undue attention to the years in which the Social Security trust funds and the Medicare Hospital Insurance (HI) trust fund are projected to become insolvent.
Doing Nothing is Not a Plan to Fix Social Security
July 19, 2017Social Security is the largest program in the federal budget, accounting for almost 24 cents out of every dollar spent by the government in 2016. The program consists of two main components: Old Age and Survivors Insurance, which provides benefits to 49 million retired individuals and their dependents, and their survivors; and Disability Insurance, which pays benefits to 11 million workers with disabilities and their dependents.