Tax & Finance Roundup: Examining the Debt Crisis

• The Wall Street Journal has published this 5-minute video on the federal debt crisis and discord between the GOP and Democrats regarding debt reduction.
• The Cleveland Fed’s inflation gauge shows the year-over-year price index for personal consumption expenditures increased from February to March.
• Ohio has the 16th highest overall tax burden, according to WalletHub’s new comparison.
• OMA Connections Partner GBQ Partners will host an economic outlook briefing in Columbus on April 27.
• Many employers may still qualify for the Employee Retention Credit, writes OMA Connections Partner CliftonLarsonAllen, which has published these FAQs.
• The Fed is trying to thread the needle by balancing inflation reduction with efforts to stabilize the banking system, OMA Connections Partner Plante Moran writes.
• OMA Connections Partner Schneider Downs has published this insight into the challenges businesses face when meeting the ASC 842 lease accounting deadline.

Meanwhile, this infographic by VisualCapitalist shows that over the past 50 years, unemployment has been a lagging indicator, reaching a cyclical low just before a recession materializes. 3/30/2023