The numbers say it all: Washington has spent its way into a fiscal crisis. This unsustainable habit will have consquences on future generations unless Congress can work together and enact lasting change.
According to Standard & Poor’s (S&P), a financial ratings agency, the 16-day government shutdown estimated that the government shutdown cost the U.S. economy a total of $24 billion. The shutdown also reduced economic growth projections from 3 percent to 2.4 percent for the fourth-quarter of the fiscal year. Below are some of the costs included in S&P’s analysis.
On Monday, the White House Office of Management and Budget issued its annual Mid-Session Review. What is this document? Why is it important and what did this one say?
Each week this year (with the exception of Thanksgiving and Christmas) we will examine the fiscal and economic health of one of the U.S. states. Our 27th state in this series is Georgia. Here are the top five (or more) things you need to know about the Peach State.
The Treasury Department today released their monthly statement for May 2013, which indicated that Washington is continuing to add to our massive national debt.
In advance of today’s Treasury Statement at 2:00pm, Bankrupting America took a look back at how current deficits stack up to past years and previous administrations. The numbers paint a clear picture. It’s not a lack of revenue; Washington has a spending problem.
Lenwood Brooks, policy director of Public Notice, joins KRMS Morning Magazine to give an update on the sequester and all the recent scandals that have come out of Washington.
The White House today released their budget for fiscal year 2014. This budget proposal, arriving 65 days late, includes $3.77 trillion of total spending, increases taxes by $580 billion by ending tax deductions and closing loopholes and would leave the nation with a $744 billion budget deficit in 2014. Despite a $230 billion cut in entitlement spending, the administration’s budget still fails to balance.
National Debt “Historically High.” The national debt is $16.7 trillion and the Congressional Budget Office (CBO) warns that “federal debt held by the public is projected to remain historically high relative to the size of the economy for the next decade.”
Get our September edition of By The Numbers, a breakdown of the economic situation in the United States.