Analysis of GAO Update To Federal Government’s Long-Term Fiscal Outlook
Relative to the GAO’s last update of their long-term simulation, the nation’s fiscal condition has deteriorated.
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Relative to the GAO’s last update of their long-term simulation, the nation’s fiscal condition has deteriorated.
The Congressional Budget Office released its 2015 Long-Term Fiscal Outlook, which projects that by 2040, federal debt will climb to over 100 percent of GDP under current law and could reach 175 percent of GDP under less optimistic assumptions.
“As a new president and Congress take office, one thing hasn’t changed: our nation’s fiscal outlook remains unsustainable," Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation, said in response to the Congressional Budget Office's Budget and Economic Outlook update.
https://www.pgpf.org/press-release/2017/01/statement-on-the-cbos-budget-and-economic-outlook
Chairman Paul Ryan's budget aims to shrink the size of government to about 20 percent of gross domestic product (GDP) in 2015 and to 15 percent of GDP in 2050.
Under the GAO’s most realistic fiscal scenario, debt held by the public will exceed 109 percent of GDP by 2020.
The primary role of the Senior Director, Tax Policy, is to track, research, analyze and assess the impacts of current, proposed and potential federal tax and revenue policies.
https://www.pgpf.org/about/careers/senior-director-tax-policy
"A fiscal commission is most likely to succeed if the broader public is involved in the process," writes Sita Slavov.
Take our quiz to see how much you really know about how revenues are collected and federal funds are spent.
https://www.pgpf.org/quiz/how-much-do-you-know-about-the-federal-budget
The economic turbulence in the United Kingdom demonstrates that fiscal responsibility is increasingly important in an era of high inflation and rising interest rates.
The child tax credit (CTC) is a measure administered though the tax code that is designed to make raising children more affordable by easing the financial burden faced by families.
https://www.pgpf.org/budget-basics/what-is-the-child-tax-credit