Pew's Fiscal Federalism Initiative is currently exploring the impact of federal deficit reduction on the states by investigating:
- The sensitivity of state budgets to changes in federal spending;
- The interconnectedness of federal and state tax policies;
- How federal regulatory policy has a fiscal impact on states; and
- The impact of federal tax and spending policies on state economies and the potential indirect effect on state finances.
Our original, non-partisan research gives both state and federal policy makers the information they need to make informed fiscal decisions.
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RESEARCH from the Project
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Addendum: No Silver Bullet: Paths for Reducing the Federal Debt
In September 2010, the Pew Fiscal Analysis Initiative released No Silver Bullet: Paths for Reducing the Federal Debt, which analyzed the implications of rising federal debt and modeled different remedies for reducing it to 60 percent of gross domestic product (GDP) in fiscal years 2025 or 2035. Since then, the Congressional Budget Office (CBO) has updated its 10-year projections to reflect the most recent economic data as well as the cost of new legislation enacted after August 2010.
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December 2010 Addendum: A Year or More: The High Cost of Long-Term Unemployment
As of December 2010, 30 percent of the 14 million Americans who were unemployed had been jobless for a year or more, according to data produced by the U.S. Department of Labor’s Bureau of Labor Statistics. That percentage is the highest since World War II, and it translates into more than 4.2 million people, roughly equivalent to the total population of Kentucky
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August 2010 Addendum: A Year or More: The High Cost of Long-Term Unemployment
Pew’s Fiscal Analysis Initiative has released new statistics showing that as of August 2010, 4.4 million people—roughly the population of Louisiana—had been out of work for a year or more; an increase of nearly 30 percent since December 2009. In an update to the April 2010 report, A Year or More: The High Cost of Long-Term Unemployment, researchers also found that federal spending on unemployment benefits will total $160 billion in fiscal year 2010.
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April 2010 Addendum: A Year or More: The High Cost of Long-Term Unemployment
In April 2010, the Pew Fiscal Analysis Initiative released A Year or More: The High Cost of Long-Term Unemployment, which found that in December 2009, 23 percent of the 14.7 million unemployed Americans—3.4 million people, roughly the population of Connecticut—had been out of work for a year or longer. The 23 percent rate was the highest since World War II.
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No Silver Bullet
This September 2010 report illustrated just how difficult it would be to tackle America’s fiscal problem by relying exclusively on any single strategy.
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Addendum: Decision Time: The Fiscal Effects of Extending the 2001 and 2003 Tax Cuts
In May 2010, the Pew Fiscal Analysis Initiative released Decision Time: The Fiscal Effects of Extending the 2001 and 2003 Tax Cuts, which examined four options for extending the tax cuts. Since then, another option has attracted attention: extending the tax cuts for only two years to individuals making less than $200,000 and married couples earning less than $250,000. more
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Decision Time
This examines the options being considered as the 2001 and 2003 tax cuts reach expiration.
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A Year or More
The challenge of long-term unemployment has persisted over the last year, even as the overall unemployment rate has improved somewhat. A Year or More: The High Cost of Long-Term Unemployment, a report released by the Pew Fiscal Analysis Initiative in April 2010, found that in December 2009, 23 percent of the 14.7 million unemployed had been out of work for a year or longer.
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