Interest Costs Are Projected to Grow Substantially
Interest costs are projected to grow substantially.
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Interest costs are projected to grow substantially.
Net interest costs on the national debt are projected to rise sharply.
By 2051, interest costs are projected to be more than three times what the federal government has historically spent on R&D, infrastructure, and education combined.
https://www.pgpf.org/chart-archive/0005_investments_interest
Historically, debt and deficits rose with wars and economic downturns. Today, they rise from factors such as growing healthcare costs and an aging population.
Non-defense discretionary spending funds a wide range of programs
https://www.pgpf.org/chart-archive/0318_nondefense_disc_categories
Beyond 2030, rising interest costs are the driving factor in projected growth in annual deficits.
https://www.pgpf.org/chart-archive/0280_net_interest_primary_deficit
The federal government collects revenue from a variety of sources.
Prior to the Great Depression deficits were unusual in the U.S. Budget. Surpluses occurred in about two-thirds of the years between 1800 to 1929.
https://www.pgpf.org/chart-archive/0023_federal-deficit-surplus
U.S. dependency on foreign lenders to finance the public debt has risen sharply.
https://www.pgpf.org/chart-archive/0057_foreign-holders-debt
Recessions and countercyclical policies generally increase deficits, but deficits tend to diminish during and after recoveries.
https://www.pgpf.org/chart-archive/0307_deficits_and_recessions