We present new evidence on the impact of fiscal variables on long-term interest rates and term premia in the United States. To alleviate endogeneity problems, we follow the seminal methodology by ...

The U.S. federal government earned $27.0B more than it spent in June, compared with the -$41.5B deficit expected and the ...

President Trump’s newly passed One Big Beautiful Bill Act will, by most conventional estimates, add trillions to America’s national debt to pay for permanent tax cuts. Republicans insist the bill ...

With President Donald Trump’s One Big Beautiful Bill now signed into law, the U.S. has “effectively locked in deficits” of 6.5% to 7% of gross domestic product for the remainder of his administration, ...

Budget hawks have fretted for decades about America’s deficits and debt, repeatedly advising our government to embrace ...

The federal budget deficit is back in the spotlight after the Republican-controlled Congress approved a massive tax and ...

The Congressional Budget Office has recently come under fire from both Democrats and Republicans for its budgetary analysis of President Trump's domestic policy law.

The fiscal hawks warn it’s “irresponsible,” “fails the American people,” and will doom the next generation. Elon Musk just ...

Russia's federal budget deficit for the first half of 2025 was 3.7 trillion roubles (about US$47 billion), or 1.7% of the country's GDP. Source: The Moscow Times, citing data from the Russian Ministry ...

We study the effects of debt-financed fiscal transfers in a general equilibrium, heterogeneous-agent model of the world economy. In the long run, increases in government debt anywhere raise the world ...

The current level of the budget deficit is mainly driven by the advance financing of expenses in January 2025 and the decline in oil and gas receipts but it will not affect performance of target indic ...

The national debt has increased under most U.S. presidents. Here is how much each president's time in office added to the U.S. debt by percentage and dollar amounts.