The Economic and Fiscal Road Ahead
The most precious asset the nation has is its people. But we are leaving far too many behind.
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The most precious asset the nation has is its people. But we are leaving far too many behind.
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
On average, Social Security benefits exceed Social Security taxes over an individual’s lifetime.
https://www.pgpf.org/Chart-Archive/0198_social_security_lifetime_benefits
Social Security provides social insurance by redistributing income from high earners to low earners.
https://www.pgpf.org/chart-archive/0244_social-security-income-redistribution
The United States was in a more precarious fiscal position in 2020 than it was at the onset of the last six recessions.
https://www.pgpf.org/chart-archive/0309_precarious_fiscal_position
Without income from Social Security, two thirds of the elderly would be considered poor.
https://www.pgpf.org/blog/2018/09/what-effect-does-social-security-have-on-poverty
The latest Financial Times-Peterson Foundation US Economic Monitor reveals that the coronavirus pandemic is financially impacting the vast majority of Americans, and there is broad-based support for federal response measures.
On average, Medicare benefits far exceed taxes over an individual’s lifetime.
https://www.pgpf.org/chart-archive/0197_Medicare_lifetime_benefits
“The most important takeaway from today’s CBO report is that interest costs are higher, adding to an already unsustainable fiscal outlook," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.