like electric vehicles, batteries, renewable energy, and semiconductors.9Since the passage of these pieces of legislation in August of 2022, spending on manufacturing construction has risen to historic highs, with investment in structures increasing 10.8% in 2023. Although House Speaker Mike Johnson ...
P. (2004). Is the US fiscal deficit sustainable ? A fractionally approach. Journal of Economics and Business, 56:501-526.Gil-Alana and F. Pérez de Gracia (2004), Is the US fiscal deficit sustainable? A fractionally integrated approach - Cunado, A...
The Q4 2023 US Economic Forecast explores the state of the US economy, amid challenges like a runup in interest rates to fight inflation, federal budget policy volatility, and growing geopolitical tensions.
The federal government just recorded its third-largest deficit in history when the U.S. ran a $1.7 trillion deficit in fiscal year 2023, which concluded at the end of September. That comes after the expiration of many of the COVID relief programs that drove the country’s two largest ...
Interest costs in the first 10 months of the fiscal year totaled $956 billion, up 32% from 2023. Getty Images The US budget deficit exceeded $1.5 trillion with two months to go until the end of the fiscal year, down slightly on 2023 though vastly larger than pre-pandemi...
With an additional $85 billion piled onto the deficit in December, the federal government closed out the first quarter of fiscal 2023 (the fiscal year begins Oct. 1) with a $421.4 trillion budget shortfall. After a big drop in November, government receipts rebounded to $454.9 billion in Dec...
downgrades were broadly similar – an erosion in confidence over US fiscal governance following partisan debt-ceiling showdowns and worsening long-term debt dynamics. Fitch cited the persistent US fiscal deficit and projected increase in the debt-to-GDP ratio as other factors supporting its ...
budget. But more importantly, the US debt has exceeded $33 trillion, and the federal government has no credible plan to rein in the expanding debt, let alone reduce it. The US government last week posted a $1.695 trillion budget deficit in fiscal 2023, a 23 percent jump from the previous...
But as the economy improves with increased vaccine distribution, the CBO estimates the deficit in 2022 will fall to $1.15 trillion. Deficits are expected to remain above $1 trillion over the next decade, except for a period between 2023 through 2025, CBO said. The CBO expects the economy ...
Observers said that the rapid increase in US debt was caused by the spending spree of the US government following the COVID-19 pandemic, while there had been no notable increase in US government revenue, resulting in a widening fiscal deficit. ...