Download the pdf: The Fiscal Gap_ Useful Metric or Misleading Indicator Introduction The persistent shortfall between taxes and spending results in a rising level of government debt. Preventing the debt from reaching an unsustainable level will require Congress to…
Introduction The Constitution (Article I, section 9, clause 7) gives Congress the “power of the purse,” which means no money can be paid out of the Treasury unless it has been appropriated by an act of Congress. However, President Biden…
Introduction Most economists agree there are times when government borrowing is either necessary or unavoidable, such as wars and recessions. But there is less agreement on how the national debt affects the economy and whether it imposes a disproportionate burden…
Introduction After nearly four decades of a consistently downward trend, the consumer price index (CPI) in 2021 increased at the fastest rate since 1982, marking a clear reversal of the previous trend.[1] Although various economic disruptions related to the…