There is likely to be a significant rise in the deficit this year—as a share of GDP, an increase from 3.8% in the first 11 months of 2022 to 5.7% this year. But Louise Sheiner explains that the higher deficit mostly reflects a fall in revenues from unusually high levels last year.
A recent Fifth Circuit Court decision will push agencies to discard or curtail the use of "no-action letters," a tool that Connor Raso describes as the "grease" that makes administrative programs work. The loss of this tool would end up hurting regulated firms the most, he writes.
Last week, Brookings Vice President and Director of the Economic Studies program Ben Harris offered testimony to the Senate Budget Committee describing six pillars of "Modern Supply Side Economics," a policy approach introduced by Treasury Secretary Janet Yellen in January 2022.
Marriage rates have declined steeply in recent decades, especially among less-affluent and less-educated households, with significant impacts on children.
In 2019, only 63% of U.S. children lived with married parents, down from 77% in 1980. In a new book, Melissa Kearney describes the numerous disadvantages that children in one-parent households face.
Read an excerpt from Kearney's book, "The Two-Parent Privilege: How Americans Stopped Getting Married and Started Falling Behind," and watch video from a recent event with Kearney and Jim Tankersley of the New York Times.
