Analysis: FY 2017 Budgets Comparison
How do the House Budget and the President’s Budget differ?
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How do the House Budget and the President’s Budget differ?
Leading experts, scholars will discuss 31 new research papers on trends that will shape America’s future economy and society.
Social Security is an important program that is part of the fabric of America. We must ensure that Social Security is available for future generations.
https://www.pgpf.org/budget-basics/making-social-security-sustainable
The latest budget outlook released by CBO is the first to fully capture the budgetary impact of the pandemic.
Medicare is a large share of the budget, and it is projected to grow.
https://www.pgpf.org/analysis/urgent-action-needed-to-shore-up-medicare-program
Similar to previous years, this budget largely relies on very optimistic projections of economic growth and unlikely budget cuts to reduce the deficit.
The latest report from the nonpartisan Congressional Budget Office (CBO) reiterates that the federal budget is on an unsustainable trajectory.
“As troubling as this year’s deficit is, it’s just the beginning of large and growing deficits as far as the eye can see," Michael A. Peterson, Chairman and CEO of the Peter G. Peterson Foundation, said.
Each year, some of the revenue the federal government collects comes from various taxes. In 2012, taxpayers paid almost $2.5 trillion, which the government used to partially fund $3.5 trillion worth of spending on Social Security, health care, and other programs in areas such as defense and education. The remainder of spending was funded through deficits.
CBO estimates that the number of uninsured under age 65 rose by 1 million people and anticipates the total to rise by another million people this year.