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Oct 13, 2020
On September 30, the federal government ended fiscal year 2020 with a budget deficit of $3.1 trillion. At an estimated 15.2 percent of gross domestic product (GDP), it was the largest deficit since 1945. On October 7, a fly nestled…


President Trump stunned politicos, investors, business groups, the media, and ordinary Americans alike earlier this week when, by executive tweet, he suddenly and unexpectedly withdrew from negotiations on a second major COVID relief package after weeks of shuttle diplomacy with…


For too long now we have watched as the national discourse has taken a divisive turn. Bipartisanship is endangered, “compromise” a dirty word. This has made dealing with key challenges all the more difficult, including our nation’s unsustainable fiscal path. …


The Concord Coalition said today that new 30-year projections by the Congressional Budget Office (CBO) demonstrate why Congress and the president should ensure that necessary near-term steps to support the economy in the face of the COVID-19 pandemic should not…


The last time the U.S. federal deficit was this high, as a percentage of the total size of the economy, was 1946. The debt-to-GDP ratio was 119%. There’s news that amid the pandemic the amount of government borrowing this year is…


Some Republicans fear a tea party-like backlash against the trillions of dollars in spending Congress approved, said Robert L. Bixby, executive director of the Concord Coalition, a deficit watchdog group. “I just think that they are very much afraid that…


This week, the Congressional Budget Office released its much-anticipated update to the 2020 budget baseline. The previous installment from CBO was published in March 2020, just ahead of the COVID-19 outbreak in the United States, the subsequent economic fallout, and…


Avid readers of The Lookout will notice that my missive today is unlike any of my previous entries. If you are accustomed to the colorful charts and technical policy analyses that usually accompany my posts, my sincerest apologies. Those features…


More than two months after House Democrats passed their version of the next installment of pandemic relief for struggling Americans (H.R.6800, the HEROES Act), Senate Republicans and Trump administration officials finally joined the debate and introduced their own: The Heath,…


This week, I hosted an informal online conversation with think-tank scholars Brian Riedl of the right-leaning Manhattan Institute and Ben Ritz of the left-leaning Progressive Policy Institute. The goal: to bring together public policy experts with differing political philosophies in…


In its Monthly Budget Review for June 2020, the Congressional Budget Office (CBO) said on Wednesday, July 8, that the budget deficit for the year so far has reached $2.74 trillion, an increase of $2 trillion over the same nine-month period in…


The Labor Department released new data today on initial unemployment claims by laid-off workers. For the week ending July 11, new claims dropped 10,000 to 1.3 million, extending the downward trend from the peak of 6.9 million in late March. Continuing…

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