Analysis of GAO Update To Federal Government’s Long-Term Fiscal Outlook
Relative to the GAO’s last update of their long-term simulation, the nation’s fiscal condition has deteriorated.
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Relative to the GAO’s last update of their long-term simulation, the nation’s fiscal condition has deteriorated.
Under the GAO’s most realistic fiscal scenario, debt held by the public will exceed 109 percent of GDP by 2020.
CBO projects that federal debt will remain at historically high levels over the next decade under current laws and warns that such high levels of debt could harm the economy.
https://www.pgpf.org/analysis/cbo-warns-deficit-drop-is-temporary
As a federal program, Social Security cannot be any stronger financially than the overall federal government, and looming financial problems in Social Security will have a negative impact on the Federal budget as a whole.
https://www.pgpf.org/analysis/the-financial-condition-of-social-security
By making gradual changes to federal spending and revenue, lawmakers can not only stabilize our fiscal outlook, but also provide long-run economic benefits.
Higher short- and long-term Treasury rates mean that the federal government's borrowing costs will also rise.
If lawmakers do not agree on raising or suspending the debt limit before the extraordinary measures are exhausted, there would be severe consequences.
https://www.pgpf.org/analysis/2023/06/debt-ceiling-update-whats-at-stake
Americans must task their newly elected officials with tackling the nation's debt — and hold them accountable for results.
https://www.pgpf.org/analysis/for-a-stronger-economy-deal-with-the-debt
Policymakers should work together to stabilize and strengthen this important program for generations to come.
https://www.pgpf.org/analysis/trustees-warn-social-security-faces-major-imbalances
According to CBO, the fiscal condition of the United States has deteriorated since its last report issued in August.
https://www.pgpf.org/analysis/cbo%E2%80%99s-latest-budget-projections-a-deteriorating-fiscal-outlook