House Tax Bill Adds $1.7 Trillion to Deficits When You Include Interest
The bill as written would move up the date we return to trillion dollar deficits by two years, to 2020.
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The bill as written would move up the date we return to trillion dollar deficits by two years, to 2020.
"When it comes time to start looking under the sofa cushions for savings, Congress should treat direct spending and tax expenditures equally," writes Betsey Stevenson.
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for July 2023.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-July-2023
The Federal Reserve plays an important role in stabilizing the country’s economy.
“Rising interest rates mean rising interest costs, and Americans understand that’s a major problem for a country that’s $30 trillion in debt,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2022/03/fci-press-release
“Unfortunately, this bill does little to address our long-term fiscal challenges," said Michael A. Peterson.
Sequestration was designed to be a blunt instrument, whose arbitrary effects would be so undesirable that they would compel policymakers to reach compromise on budget legislation rather than allow the cuts to go into effect.
The Peter G. Peterson Foundation issues a statement on fiscal negotiations.
Michael A. Peterson, President & COO of PGPF, commented today following the release of the President's FY2016 Budget.
The Peter G. Peterson Foundation releases a statement on the completion of fiscal commission appointments.