National Debt to Double in Size and Other Key Takeaways from the CBO Long-Term Outlook
The report highlights the structural misalignment in the country’s budget and the resulting unsustainable fiscal trajectory.
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The report highlights the structural misalignment in the country’s budget and the resulting unsustainable fiscal trajectory.
The percentage of income that Americans pay in taxes can vary widely and depend on many factors.
To illuminate what the latest economic indicators mean, connect the dots, and discuss how CBO analysis helps policymakers, CBO Director Phillip Swagel joined Peterson Foundation CEO Michael Peterson for the latest Economic Forum.
Since its establishment in 1935, Social Security has grown to become the largest program in the federal budget.
https://www.pgpf.org/blog/2023/02/social-security-reform-should-we-reduce-benefits
The economic turbulence in the United Kingdom demonstrates that fiscal responsibility is increasingly important in an era of high inflation and rising interest rates.
Mounting federal debt can cause interest rates to rise significantly, according to a new report released by the American Enterprise Institute (AEI).
https://www.pgpf.org/blog/2022/12/the-rising-national-debt-drives-up-interest-rates
There are separate limits on the amount of funding that can be provided for defense and nondefense purposes through the appropriation process.
https://www.pgpf.org/blog/2018/03/budget-process-reform-what-are-budget-caps
One of the largest drivers of that rising debt is federal spending on major healthcare programs, such as Medicare and Medicaid.
Spending on healthcare in the United States has far outpaced other major healthcare systems without yielding better outcomes.
CBO prepares what is known as an alternative fiscal scenario, which can be helpful in understanding a range of potential outcomes.
https://www.pgpf.org/blog/2019/09/what-is-an-alternative-fiscal-scenario