Long-Term Fiscal Balance and the Social Security Trust Fund
The projected shortfall of future Social Security revenues is the result of political action, not the absence of policy options for addressing this issue.
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The projected shortfall of future Social Security revenues is the result of political action, not the absence of policy options for addressing this issue.
“The writing on the wall couldn’t be any more clear: Social Security and Medicare remain on a dangerously unsustainable path," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
Waiting to act raises the cost of stabilizing the debt.
Healthcare costs in the U.S. have increased drastically over the past several decades.
Social Security is the largest single federal program, and accounts for approximately one quarter of all federal spending.
https://www.pgpf.org/blog/celebrating-social-securitys-80th-anniversary
The most precious asset the nation has is its people. But we are leaving far too many behind.
“This budget acknowledges the need for deficit reduction, and represents a positive step and starting point for action on stabilizing our national debt" said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
https://www.pgpf.org/press-release/2022/03/peterson-foundation-statement-on-presidents-budget
In order to balance our budget and reduce the amount of debt the government takes on each year, we must match the level of government revenues with the level of spending.
https://www.pgpf.org/budget-basics/where-the-money-comes-from-revenues-taxes
Reconciliation provides for expedited consideration of certain legislation; its use is particularly important in the Senate because it limits the time allowed for debate and prevents the inclusion of non-budgetary provisions.
https://www.pgpf.org/budget-basics/what-is-budget-reconciliation