This Year We Saw the Largest Budget Deficit Since 1945, Driven Largely by the Pandemic
In fiscal year 2020, the U.S. saw the largest budget deficit since 1945 at $3.1 trillion. Find out what contributed to these record-breaking stats.
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In fiscal year 2020, the U.S. saw the largest budget deficit since 1945 at $3.1 trillion. Find out what contributed to these record-breaking stats.
The President’s budget for fiscal year 2022 calls for a large increase in nondefense discretionary spending next year as well as substantial spending for infrastructure and social programs over the upcoming decade.
CBO reports that the fiscal outlook is dramatically worse than it was last year, primarily due to the fiscally irresponsible tax legislation and budget deal.
https://www.pgpf.org/blog/2018/04/a-return-to-trillion-dollar-deficits
Lower levels of debt allow governments to respond more effectively to a recession or financial crisis.
A divided government means there is both a requirement and a valuable opportunity for lawmakers to work together on fiscal solutions.
The federal budget deficit rose to $666 billion for fiscal year 2017 — an increase of around $80 billion from the previous year.
https://www.pgpf.org/blog/2017/10/federal-budget-deficits-rising-even-before-tax-cuts
The Farm Bill provides an opportunity for policymakers to comprehensively address agricultural, food, conservation, and other issues.
A newly updated report, prepared by Ernst & Young, reexamines the federal government's long-term fiscal outlook through the "fiscal gap" measure.
“The federal government’s fiscal path is unsustainable," warns the Government Accountability Office.
The Peterson Foundation has prepared analysis based on those reports, illustrating the key data points with pertinent chart information.
https://www.pgpf.org/blog/2015-social-security-medicare-trustees-reports-charts-and-analysis