Falling US income tax revenue is the main reason the default showdown has come sooner than expected, but outlays are up, too, for some interesting reasons.
The pandemic spending binge has mostly been reversed, but some programs have expired only recently. What has been driving spending up is higher interest payments on the federal debt.
The latest personal income tax data shows the state bringing in less revenue than it did before the pandemic, which could hamper its ability to pay its bills.
New York has been losing people to other states for a while. But something new happened during the pandemic: The people who left had higher incomes than those who stayed
The nationwide jump in shootings and homicides in the pandemic and rise in other crimes that followed have made crime a hot topic again in the US. To see how recent findings fit with the national discussion on crime, Justin Fox talked to Jennifer Doleac, an economist at Texas A&M University who studies crime.