After the Supercommittee, Fiscal Policy Questions Still Have to be Addressed
The end of the supercommittee doesn’t mean the end of the fiscal policy debate in Washington.
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The end of the supercommittee doesn’t mean the end of the fiscal policy debate in Washington.
Tax expenditures are often "spending in disguise" because they are used by Congress to direct resources to specific constituencies and priorities — much like spending programs.
https://www.pgpf.org/analysis/the-debate-over-tax-expenditures
2013 Fall Fiscal Agenda: A Critical Time for Action; 4 upcoming milestones
https://www.pgpf.org/budget-basics/2013-fall-fiscal-agenda-%E2%80%94-conclusion
CBO projects that, on our current path, the deficit will reach nearly $1 trillion next year and will total $12.4 trillion over the ten-year period from 2019.
https://www.pgpf.org/analysis/2018/04/cbo-report-outlines-dramatically-worse-fiscal-outlook
Today, the Congressional Budget Office released its Update to the Budget and Economic Outlook: 2015-2025, which projects that federal debt will rise to 77 percent of GDP in 2025, a historically high level of debt that threatens economic growth over the long term.
If all of the proposals in the budget were adopted, government debt would still soar to unsustainable levels in the long run, even under the optimistic assumptions used in the administration’s long-run projections.
The Congressional Budget Office released its 2015 Long-Term Fiscal Outlook, which projects that by 2040, federal debt will climb to over 100 percent of GDP under current law and could reach 175 percent of GDP under less optimistic assumptions.
Michael A. Peterson releases a statement on President Barack Obama's budget.
The normal retirement age for receiving full Social Security benefits depends on the year of your birth.
https://www.pgpf.org/chart-archive/0245_social-security-year-of-birth