Household Debt Remains High
Despite recent declines, U.S. household debt is still very high relative to disposable income.
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Despite recent declines, U.S. household debt is still very high relative to disposable income.
If lawmakers do not agree on raising or suspending the debt limit before the extraordinary measures are exhausted, there would be severe consequences.
https://www.pgpf.org/analysis/2023/06/debt-ceiling-update-whats-at-stake
The United States is on pace to lead the world in debt increase as a percentage of GDP.
https://www.pgpf.org/chart-archive/0310_us_lead_world_debt_increase
If all of the proposals in the budget were adopted, government debt would still soar to unsustainable levels in the long run, even under the optimistic assumptions used in the administration’s long-run projections.
Federal debt is already at its highest level as a percentage of GDP since 1950 and would exceed its all-time high by 2034 under current law.
https://www.pgpf.org/analysis/2018/07/cbo-warns-historic-debt-levels-threaten-economy
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
Making changes to defense, health care and Social Security will help us reduce our debt, and also leave money to fund other critical responsibilities and invest in our future.
https://www.pgpf.org/budget-basics/the-other-20-of-federal-spending
Improving our healthcare system to deliver better quality care at lower cost is critically important to our nation’s long-term economic and fiscal well-being.
https://www.pgpf.org/infographic/infographic-us-healthcare-spending
The Federal Reserve owns nearly one-third of domestically held debt.
https://www.pgpf.org/chart-archive/0312_domestic_debt_holders
Foreign investors own one-third of all U.S. public debt.
https://www.pgpf.org/chart-archive/0311_us_domestic_foreign_debt