Fiscal Focus

Risk of Recession? As economic headlines grow increasingly dramatic, discussions about the potential for a recession in the United States have re-entered public discourse. From slowing GDP growth to shifting consumer behavior, a number of indicators have raised concerns about whether the U.S. is approaching an economic contraction.  Defining a Recession: Beyond the Simplistic Narratives In media, a recession is defined as two consecutive quarters of negative GDP growth. While this shorthand is widely used, it oversimplifies the diagnostic process. The National Bureau of Economic Research (NBER), the organization generally recognized as the official arbiter of U.S. business cycles, uses a broader approach. According to the NBER, a recession is characterized by a significant decline in economic activity across the economy, lasting more than a few months, and visible in real GDP, real income, employment, industrial production, and wholesale-retail sales, big macroeconomic concepts. Th...

  College Isn’t Getting Cheaper: The Real Costs Students Face Today By Fiscal Focus | August 07, 2025 As college application season kicks off, many students rush to complete their applications and finalize everything. As high schoolers look ahead to higher education, one thing is hard to ignore: college is more expensive than ever . Over the past two decades, tuition has increased at more than double the rate of inflation, and it has not slowed down. In 2024, the average cost of attendance at a four-year public college was pushing $28,000 per year for in-state students, with private schools often costing twice as much. But tuition alone doesn’t tell the full story. The actual price tag of college includes housing, food, books, transportation, technology, and daily living expenses. Dorms and meal plans might look convenient, but they add thousands of dollars per year to a student’s bill. Textbooks can cost hundreds each semester. Even printing fees, lab materials, and basic costs...