10 Charts that Show How the United States Failed to Improve Its Fiscal Outlook in 2023
The end of 2023 marks another year that the country has failed to improve its daunting fiscal outlook.
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The end of 2023 marks another year that the country has failed to improve its daunting fiscal outlook.
In FY23 the federal government officially incurred a budget deficit of $1.7 trillion — about $320 billion higher than last year's amount.
https://www.pgpf.org/blog/2023/12/americas-underlying-deficit-doubled-in-fiscal-year-2023
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for December 2023.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-december-2023
“As the national debt races toward $34 trillion, policymakers remain mired in short-term budget battles that do nothing to improve our fiscal outlook,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2023/11/fci-press-release
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for November 2023.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-november-2023
We asked 10 respected policy experts from across the ideological spectrum to share their views on a fiscal commission. Here are the key takeaways.
https://www.pgpf.org/blog/2023/11/what-the-experts-are-saying-about-a-bipartisan-fiscal-commission
Portman, Panetta, Heitkamp, Zandi and others call for bipartisan fiscal commission, outlining spending and revenue reforms to stabilize the debt.
"When the dominoes of our national debt fall, young Americans will be the ones left to pick up the pieces," writes Heidi Heitkamp.
"The public has to be involved, educated, and understand the consequences of inaction. Legislators will not make difficult decisions unless their constituents see a need and reason to act," writes G. William Hoagland
https://www.pgpf.org/expert-views/fiscal-commission/fiscal-commissions-promises-and-disappointments
"Too often in recent years, Washington has largely governed by crisis. No area better reflects the pressure of constant crisis than the federal budget," writes Leon E. Panetta