The National Debt Can Crowd Out Investments in the Economy — Here’s How
The federal government is slated to borrow about $1.5 trillion this year, and that number is projected to nearly double over the next decade.
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The federal government is slated to borrow about $1.5 trillion this year, and that number is projected to nearly double over the next decade.
Debt rises and falls with wars and changes in the economy. Debt is currently at its highest level since 1946.
The national debt is on an unsustainable path.
https://www.pgpf.org/chart-archive/0202_federal-debt-proj-since-1930
Historically, debt and deficits rose with wars and economic downturns. Today, they rise from factors such as growing healthcare costs and an aging population.
Between 2006 and 2051, spending on federal health programs is projected to more than double.
https://www.pgpf.org/chart-archive/0114_federal_health_spending
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
The U.S. tax system is progressive, with higher-income taxpayers facing higher tax rates.
The primary role of the Senior Director, Tax Policy, is to track, research, analyze and assess the impacts of current, proposed and potential federal tax and revenue policies.
https://www.pgpf.org/about/careers/senior-director-tax-policy
Social Security will run a cumulative cash deficit of $2.9 trillion between now and 2035.
https://www.pgpf.org/chart-archive/0030_social-security-deficits-gdp