CBO Analysis on President Obama's FY 2012 Budget
These projections provide fresh evidence that the nation’s fiscal policy is on an unsustainable course and changes in policy will be needed.
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These projections provide fresh evidence that the nation’s fiscal policy is on an unsustainable course and changes in policy will be needed.
The Congressional Budget Office's latest Budget and Economic Outlook provides sobering new evidence that our nation's fiscal policies are on an unsustainable and uncertain path.
https://www.pgpf.org/analysis/analysis-of-cbo%E2%80%99s-budget-outlook-fiscal-years-2012-2022
The President’s budget for Fiscal Year 2012 contains spending and revenue proposals for the remainder of the current year, as well as the coming decade.
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.
Under current spending and tax policies, federal debt would be on a path that climbs to about 200 percent of gross domestic product within 25 years, according to CBO.
The President released his annual budget today, outlining the Administration's policy proposals, budgetary projections, and economic forecasts for 2015 through 2024.
https://www.pgpf.org/analysis/analysis-of-the-presidents-fiscal-year-2015-budget
Chairman Paul Ryan's budget aims to shrink the size of government to about 20 percent of gross domestic product (GDP) in 2015 and to 15 percent of GDP in 2050.
The nonpartisan Congressional Budget Office has released a mid-year update to its projections of the nation’s federal finances and economic health.
Each year, some of the revenue the federal government collects comes from various taxes. In 2012, taxpayers paid almost $2.5 trillion, which the government used to partially fund $3.5 trillion worth of spending on Social Security, health care, and other programs in areas such as defense and education. The remainder of spending was funded through deficits.
National debt could climb from 74% of GDP in 2014 to 166% of GDP in 2039.
https://www.pgpf.org/analysis/gao-sends-clear-warning-long-term-debt-is-on-an-unsustainable-path