Essential Programs are on an Unsustainable Path
By the Numbers: 2021 Trustees Reports.
https://www.pgpf.org/chart-archive/0321_trustees_reports_2021
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By the Numbers: 2021 Trustees Reports.
https://www.pgpf.org/chart-archive/0321_trustees_reports_2021
Most federal revenues come from individual income and payroll taxes
Revenue from corporate income taxes has largely decreased since 1950.
https://www.pgpf.org/chart-archive/0303_corporate_tax_share_gdp
Unlike during other recessions, revenues from the capital gains tax have remained relatively steady throughout the COVID-19 pandemic.
https://www.pgpf.org/chart-archive/0317_capital_gains_revenues
CBO projects that interest rates will remain low throughout the decade.
https://www.pgpf.org/chart-archive/0269_interest_rates_projected_to_rise
SNAP benefits supplement household incomes to help lift people out of poverty.
https://www.pgpf.org/chart-archive/0264_snap_supplements_income
The national debt has risen dramatically over the past year.
https://www.pgpf.org/chart-archive/0322_debt_projection_next_year
The growing debt is caused by a structural mismatch between spending and revenues.
The federal deficit is projected to decline in 2021, but is expected to remain high over the next decade
SNAP spending sharply increased in response to the COVID-19 pandemic, but is projected to decline below historical levels over the next decade.