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
Historically, debt and deficits rose with wars and economic downturns. Today, they rise from factors such as growing healthcare costs and an aging population.
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
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.
Deficits would be even higher under an alternative fiscal scenario.
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
The national debt has risen dramatically over the past year.
https://www.pgpf.org/chart-archive/0322_debt_projection_next_year
The growing debt is caused by a structural mismatch between spending and revenues.