Opportunities for Bipartisan Fiscal Policy in 2023
"Sound fiscal policy can make it easier for the Fed to bring inflation down without pushing the economy into a recession," writes Ben Ritz.
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"Sound fiscal policy can make it easier for the Fed to bring inflation down without pushing the economy into a recession," writes Ben Ritz.
Social Security is the largest single program in the federal budget and makes up approximately one quarter of total federal spending.
https://www.pgpf.org/budget-basics/how-does-social-security-work
The poverty rate in 2009 was 14.3 percent, up from 13.2 percent in 2008. This is the highest rate since 1994.
https://www.pgpf.org/analysis/census-bureau-report-on-poverty-and-health-insurance-coverage
The nonpartisan Congressional Budget Office projects that the federal debt could reach 175% of GDP by 2040.
https://www.pgpf.org/analysis/congressional-budget-offices-2015-long-term-budget-outlook
Though the economy continues its recovery and we have made some progress on deficits, our deficits will begin growing again soon, and major long-term fiscal challenges remain.
“Interest costs are skyrocketing to record levels, damaging our nation’s budget, economy and future," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
The Medicare Advantage allows beneficiaries enrolled in both Part A and Part B to receive benefits from private plans.
https://www.pgpf.org/budget-basics/what-is-medicare-advantage
The U.S. spends twice as much on prescription drugs as other comparatively wealthy nations, on average.
Inflation and interest rates will have important impacts on the long-term federal budget outlook.