CBO: President’s Budget Fails to Put Nation on Fiscally Sustainable Path
CBO’s estimate of the cumulative deficit over the next 10 years totals $2.3 trillion more than the Administration had estimated.
The search found 119 results in 0.228 seconds.
CBO’s estimate of the cumulative deficit over the next 10 years totals $2.3 trillion more than the Administration had estimated.
The federal budget is on an unsustainable and damaging fiscal trajectory, according to a new report from the nonpartisan Congressional Budget Office.
https://www.pgpf.org/analysis/2019/02/cbo-report-highlights-unsustainable-fiscal-outlook
This outlook is particularly worrisome because the baby boom generation is beginning to retire and will place growing demands on Social Security, Medicare, and Medicaid in the 2020s.
CBO projects that, on our current path, the deficit will reach nearly $1 trillion next year and will total $12.4 trillion over the ten-year period from 2019.
https://www.pgpf.org/analysis/2018/04/cbo-report-outlines-dramatically-worse-fiscal-outlook
The long-term budget outlook has deteriorated significantly since last year, when CBO projected debt would reach 111% of GDP in 30 years under current law.
https://www.pgpf.org/analysis/2016/07/cbo-long-term-budget-outlook-worse-than-last-year
An aging population and rising healthcare costs will drive sharp increases in Medicare spending, which will not keep pace with the program's funding sources.
https://www.pgpf.org/analysis/2017/07/medicare-trustees-warn-of-serious-financial-shortfalls
After months of negotiations, with default looming, Congress passed and the President signed the Budget Control Act of 2011, which raises the debt ceiling and puts a process in place for reducing the deficit.
https://www.pgpf.org/analysis/peter-g-peterson-foundation-analysis-of-the-budget-control-act-of-2011
What does reinstating the debt ceiling mean for federal policymaking and the economy?
https://www.pgpf.org/analysis/2017/03/the-debt-ceiling-reinstated
Last year, the U.S. deficit of $1.4 trillion or 9.9 percent of gross domestic product, was the largest since the end of World War II.
https://www.pgpf.org/analysis/2009/04/the-us-faces-looming-fiscal-crisis
Social Security’s finances are facing growing pressure due to the aging of the population.
https://www.pgpf.org/analysis/2017/07/trustees-warn-social-security-in-financial-trouble