Federal debt: 1931-2051
The national debt is on an unsustainable path.
https://www.pgpf.org/chart-archive/0202_federal-debt-proj-since-1930
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The national debt is on an unsustainable path.
https://www.pgpf.org/chart-archive/0202_federal-debt-proj-since-1930
Financing the debt will become more burdensome now that interest rates have returned to their pre-pandemic levels.
The Peter G. Peterson Foundation focuses on budget trends over the coming decade under the competing House Republican and Senate Democrat proposals from March 2013.
https://www.pgpf.org/analysis/a-look-at-the-competing-house-and-senate-budget-proposals
“On the heels of the first meaningful deficit reduction initiative in years in the Inflation Reduction Act, it’s highly irresponsible, unfortunate and unwise to wipe out those fiscal benefits with this announcement," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
On average, Social Security benefits exceed Social Security taxes over an individual’s lifetime.
https://www.pgpf.org/Chart-Archive/0198_social_security_lifetime_benefits
Social Security provides social insurance by redistributing income from high earners to low earners.
https://www.pgpf.org/chart-archive/0244_social-security-income-redistribution
CBO Director Phillip Swagel joined Peter G. Peterson Foundation CEO Michael Peterson for a discussion of this new report a day after its release.
The United States was in a more precarious fiscal position in 2020 than it was at the onset of the last six recessions.
https://www.pgpf.org/chart-archive/0309_precarious_fiscal_position
Federal debt is already at its highest level as a percentage of GDP since 1950 and would exceed its all-time high by 2034 under current law.
https://www.pgpf.org/analysis/2018/07/cbo-warns-historic-debt-levels-threaten-economy