Money

"The cumulative deficit over the 2023–2032 period that we now project is $3 trillion larger than we projected last May, mainly because of newly enacted legislation and changes to the economic forecast that boost interest costs and spending on mandatory programs. Federal debt held by the public is projected to rise from 98 percent of GDP in 2023 to 118 percent in 2033 — an average increase of 2 percentage points per year. Over that period, the growth of interest costs and mandatory spending outpaces the growth of revenues and the economy, driving up debt. Those factors persist beyond 2033, pushing federal debt higher still, to 195 percent of GDP in 2053. The increase in mandatory spending is driven by rising costs for Social Security and Medicare. Total discretionary spending falls in relation to GDP. As the cost of financing the nation’s debt grows, net outlays for interest increase substantially." more »

"Many adults experience problems like coughing, chest pain, and fatigue six months after their stay. About half of adults treated at hospitals for COVID-19 have experienced lingering symptoms, financial difficulties, or physical limitations months after being discharged, according to a National Institutes of Health-supported study published in JAMA Network Open. After six months, more than 7 in 10 adults surveyed in the study experienced cardiopulmonary problems, such as coughing, rapid or irregular heartbeat, and breathlessness, while about half had fatigue or physical limitations – all symptoms associated with long COVID(link is external). Additionally, more than half of the adults said they faced financial challenges." more »

Women's Congressional Policy Institute: "A resolution supporting the observation of National Trafficking and Modern Slavery Prevention Month to raise awareness of, and opposition to, human trafficking and modern slavery; A bill to amend Family and Medical Leave Act to expand employees eligible for leave and employers subject to leave requirements; A bill to assist states in carrying out projects to expand the child care workforce and child care facilities in the states. . A bill to prohibit the interference, under color of state law, with the provision of interstate abortion services."  more »

"Three programs — SBA's PPP and COVID-19 EIDL program, and DOL's UI program—account for a large portion of COVID-19 relief funding. Based on GAO's findings and other audits, GAO added SBA's emergency loans for small businesses issued under PPP and COVID-19 EIDL, and the UI system to its High-Risk List in March 2021 and June 2022, respectively. This testimony summarizes (1) fraud, improper payments, and accountability deficiencies in COVID-19 relief programs; (2) shortcomings in agencies' fraud risk management practices and internal controls; and (3) the status of recommended actions to improve these practices in the future. GAO reviewed its prior COVID-19 findings and recommendations on internal controls and fraud risk management practices." more »