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While deficits will decline over the next few years as the pandemic wanes and the economy recovers, the nation will remain on an unsustainable fiscal trajectory due to a structural mismatch between spending and revenues.
As part of the second year of the Up to Us initiative, student teams from 24 colleges and universities are launching innovative, creative and thought-provoking campus campaigns focused on fiscal issues.
Donald Trump entered office with the highest level of debt to GDP of any incoming president since Harry Truman.
https://www.pgpf.org/infographic/infographic-the-national-debt-and-our-economy
"The purpose of electing people to public office is to govern — to make the tough choices, to take the risks, to resolve differences and to enact policies that strengthen the nation," writes Leon E. Panetta.
It’s important for lawmakers to consider the many available policy options for improving that outlook.
https://www.pgpf.org/blog/2018/12/121-ways-we-can-reduce-the-deficit-according-to-cbo
One of the largest drivers of that rising debt is federal spending on major healthcare programs, such as Medicare and Medicaid.
As Congress returns from its August recess, lawmakers face a to-do list filled with important fiscal deadlines.
The Fed is not in the business of monetizing our government’s debt but is skating close to the edge, which has upped the risk of a misstep.
The bill as written would move up the date we return to trillion dollar deficits by two years, to 2020.
The Peterson Foundation releases a statement on the fiscally irresponsible "tax extenders" legislation.