Social distancing has caused businesses to close or curtail their services to slow the spread of COVID-19. Employees of non-essential services, such as restaurants and retail stores, in turn are losing their jobs or experiencing a drastic reduction in pay. These employees are already straining to make ends meet because they are more likely to earn hourly wages and lack benefits such as healthcare or paid sick leave. Before this pandemic,
In August, Congress approved a bipartisan two-year budget deal for fiscal years 2020 and 2021. The agreement raises overall spending caps for defense and non-defense discretionary programs by $321 billion over two years. Funding for domestic programs will increase by 4.5%, or $27 billion, over the FY19 level. NLC’s Fiscal Year 2020 budget tracker tracks specific FY20 spending
The Cost of Crisis-Driven Fiscal Policy, a study conducted by Macroeconomic Advisers on behalf of the Peter G. Peterson Foundation, finds that the uncertainty created by the on-going short-term spending bills and perpetual brinksmanship around the debt ceiling has pushed the unemployment rate 0.6 percentage points higher than it would otherwise have been this year.
NLC is receiving a lot of media inquiries about the prospect of cities filing for Chapter 9 bankruptcy. It’s not surprising that the chattering classes are agog about cities going under. It’s a grabber of a headline: “City X Files Ch. 9!” The problem with this story is that the numbers just aren’t there to