The era of declining deficits is over, as this year’s budget deficit is forecast to increase from last year and continue on an upward path. In light of these developments, we offered 5 Ways Congress Should Respond Now That Deficits Are Rising Again. As Congress goes through the budget process, let’s see how it is responding.
Senator Bernie Sanders is setting an important example by detailing how he would pay for his initiatives. But his offsets would fall short, meaning that he would add to the national debt even while increasing revenue substantially.
We are taking a closer look at the basics of the U.S. tax system as Tax Day approaches. We provide a taxpayer receipt for where the money goes and highlight where it comes from in the first place.
Tax Day is just two weeks away. We think it’s a good time to quickly look at the tax code with our latest video.
The nonpartisan Congressional Budget Office (CBO) updated its ten-year budget forecast. The latest numbers show the deficit rising this year after a few years of decline. Deficits and debt will be on an upward path towards unsustainable levels.