Rising Federal Deficits
The federal deficit is projected to decline in 2021, but is expected to remain high over the next decade
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The federal deficit is projected to decline in 2021, but is expected to remain high over the next decade
Over the past 50 years, the share of the federal budget devoted to investments in the future has fallen sharply.
https://www.pgpf.org/chart-archive/0302_declining_investment_future
Mandatory spending accounts for about two-thirds of the budget.
Medicare and Medicaid account for the majority of federal healthcare spending
https://www.pgpf.org/chart-archive/0169_federal_health_spending_composition
The U.S. tax system is progressive, with higher-income taxpayers facing higher tax rates.
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
The recent volatility in interest rates show that breaching the debt ceiling could make federal borrowing much more expensive.
The nation’s high and rising levels of debt can affect economic growth and pose a number of risks.
By making gradual changes to federal spending and revenue, lawmakers can not only stabilize our fiscal outlook, but also provide long-run economic benefits.
The lawmakers we choose this November will face critical fiscal and economic decisions in the next two, four, and six years.
https://www.pgpf.org/infographic/the-fiscal-election-whats-at-stake-in-this-election