These Eight Decisions by Lawmakers in the Last Two Years Will Add $2.3 Trillion to the National Debt
Just eight actions over the past two years will add an estimated $2.3 trillion to deficits between 2021 and 2031.
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Just eight actions over the past two years will add an estimated $2.3 trillion to deficits between 2021 and 2031.
Healthcare in the United States is very expensive — but we don’t get what we pay for.
https://www.pgpf.org/blog/2023/07/why-the-american-healthcare-system-underperforms
GAO projects that debt held by the public could more than double over the next 30 years — rising from around 100 percent of gross domestic product (GDP) at the end of fiscal year 2021 to 217 percent in 2050.
Many Americans, young and old, may be confused by the complex set of issues that comprise how the government raises revenues and allocates them.
https://www.pgpf.org/blog/2023/06/what-is-fiscal-policy-interactive-teaching-tools
Driven by rising interest rates and the accumulation of federal debt, interest will nearly triple in the next 10 years and reach a historic high relative to the size of the economy by 2032.
The likelihood of a return to higher interest rates is “both reasonably likely at some point and potentially calamitous for the federal government and broader economy.”
https://www.pgpf.org/blog/2022/05/do-higher-interest-rates-make-a-debt-crisis-more-likely
The federal budget deficit rose to $666 billion for fiscal year 2017 — an increase of around $80 billion from the previous year.
https://www.pgpf.org/blog/2017/10/federal-budget-deficits-rising-even-before-tax-cuts
Proposals such as a regulatory restructuring of repayment plans and cancellation of student debt through personal bankruptcy or other means have been offered as reforms to address the growing student debt burden.
https://www.pgpf.org/blog/2022/06/how-does-student-debt-affect-the-economy
President Biden’s proposed policies, if enacted, would reduce deficits over the next decade, according to an analysis recently published by the Congressional Budget Office (CBO).
In an important acknowledgement of our nation’s unsustainable fiscal outlook, the President’s budget for fiscal year 2023 proposes to reduce deficits by $1 trillion over the next decade relative to current law.