The Fiscal & Economic Challenge
Discover why our fiscal health and economic strength are so closely tied, and why it is important to get the deficit under control and work toward a balanced budget.
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Discover why our fiscal health and economic strength are so closely tied, and why it is important to get the deficit under control and work toward a balanced budget.
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for Feburary 2024.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-february-2024
Healthcare spending in the United States is rising, with serious implications for the federal budget.
"Today’s CBO projections are the latest loud and clear warning about America’s unsustainable national debt," said Michael A. Peterson.
https://www.pgpf.org/press-release/2024/02/peterson-foundation-statement-on-new-cbo-report
Solutions Initiative 2019: Projected Federal Debt
https://www.pgpf.org/chart-archive/0279_solutions_initiative_2019
In 2008, the Peter G. Peterson Foundation was established with the goal of preserving the American Dream for the next generation. My father saw our high and rising debt as a transcendent threat to our future economy – posing a risk to every American, and our leadership role in the world.
Despite a growing economy and low unemployment, federal budget deficits are projected to grow over the next 10 years.
https://www.pgpf.org/blog/2019/01/five-charts-that-summarize-cbos-budget-and-economic-outlook
Across the political spectrum, there are many policy options that could address our fiscal challenges and build a stronger, more sustainable economic future.
Under current law, federal debt is now projected to reach 150 percent of GDP within 30 years — by far an all-time high.
Let’s look at the trends in discretionary spending, and how effective they are in reducing the debt.
https://www.pgpf.org/blog/2023/06/what-are-discretionary-spending-caps-and-do-they-work