Panetta: U.S. Headed for a “Death Spiral” of Deficits and Debt Unless Lawmakers Act
Unless addressed soon, the growing national debt will "seriously jeopardize and undermine the American economy," said former Secretary of Defense Leon Panetta.
The search found 206 results in 0.265 seconds.
Unless addressed soon, the growing national debt will "seriously jeopardize and undermine the American economy," said former Secretary of Defense Leon Panetta.
Our high and rising debt is “a big burden placed on current citizens, based on our past budgetary irresponsibility,” said Michael Peterson, CEO of the Peter G. Peterson Foundation, in a recent appearance on C-SPAN’s Washington Journal.
For 2023, the Congressional Budget Office (CBO) estimated in May that the federal budget deficit will total $1.5 trillion.
One key component of the $1.9 trillion package is an estimated $362 billion in federal aid to state, local, territorial, and tribal governments to cover expenditures incurred due to the public health emergency.
The economic impact of the coronavirus has been profound, but it has not been felt equally by all demographic groups.
https://www.pgpf.org/blog/2020/12/five-key-takeaways-from-the-unemployment-data
Social Security, America’s essential public retirement program, is on a path to depletion in less than 10 years.
Rising inflation usually prompts higher interest rates, which in turn boost interest paid on the federal debt and thereby increase annual deficits.
https://www.pgpf.org/blog/2023/08/how-does-inflation-affect-the-federal-budget
At the first presidential debate, both candidates acknowledged the growing national debt, but voters want to hear more.
Today, the Social Security and Medicare Trustees released their annual reports on the programs’ financing, showing that the future of these vital programs remain at risk.
https://www.pgpf.org/blog/2023/03/social-security-and-medicare-are-facing-serious-shortfalls
The federal deficit is projected to be over $1 trillion each year for the next 10 years.
https://www.pgpf.org/blog/2022/09/1-trillion-deficits-are-projected-for-the-foreseeable-future