Statement on CBO’s 2016 Long-Term Budget Outlook
CBO projects that federal debt will climb to 141 percent of GDP within 30 years — exceeding the highest level of debt ever recorded at the end of World War II by a large margin.
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CBO projects that federal debt will climb to 141 percent of GDP within 30 years — exceeding the highest level of debt ever recorded at the end of World War II by a large margin.
With the national debt surpassing $31 trillion, the next generation of American leaders is making its voice heard.
Policymakers should build on the bipartisanship of this Act to work towards passing fiscal reforms that will put our nation on a sustainable fiscal path.
https://www.pgpf.org/analysis/understanding-the-bipartisan-budget-act-of-2015
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.
In the legislative days remaining before the 113th Congress adjourns, there is much urgent work to be done to put the nation on a more sustainable and predictable path, now and in the future.
The Peter G. Peterson Foundation presents a primer on the federal budget.
https://www.pgpf.org/budget-basics/the-federal-budget-primer
The Peterson Foundation works to bring Americans together to find and implement sensible, long-term solutions for our country’s fiscal and economic challenges.
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for March 2023.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-march-2023
Most working Americans are subject to payroll taxes, which are usually deducted automatically from an employee’s paycheck. Employers are also often subject to these types of taxes.
https://www.pgpf.org/budget-basics/budget-explainer-payroll-taxes
Two of America’s top economists said Monday that while the U.S. faces a complex mix of fiscal and economic challenges, they don’t see an immediate threat of recession.