Analysis: CBO 2013 Long-Term Budget Outlook
The Congressional Budget Office’s new long-term projections show that the federal budget is on an unsustainable path.
https://www.pgpf.org/analysis/cbo-2013-long-term-budget-outlook-analysis
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The Congressional Budget Office’s new long-term projections show that the federal budget is on an unsustainable path.
https://www.pgpf.org/analysis/cbo-2013-long-term-budget-outlook-analysis
Each year, some of the revenue the federal government collects comes from various taxes. In 2012, taxpayers paid almost $2.5 trillion, which the government used to partially fund $3.5 trillion worth of spending on Social Security, health care, and other programs in areas such as defense and education. The remainder of spending was funded through deficits.
Recent budget reforms have not significantly improved the nation’s long-term fiscal outlook, according to a report released today by the Peter G. Peterson Foundation.
Although the President's budget would make progress by reducing deficits and stabilizing the debt over the next ten years, federal debt would remain high by historical standards.
https://www.pgpf.org/analysis/summary-of-cbos-analysis-of-the-presidents-budget-for-fiscal-year-2014
In the waning days of 2012 and early hours of 2013, U.S. policymakers struggled with how to address the "fiscal cliff" — a set of scheduled tax increases and spending cuts that, if allowed to take effect, could have pushed the economy into another recession.
https://www.pgpf.org/analysis/past-the-cliff-but-not-out-of-the-woods
Federal debt would rise to 78 percent of GDP in 2014 — higher than it has been at any point in our history since 1950.
https://www.pgpf.org/analysis/analysis-of-the-president%E2%80%99s-fiscal-year-2014-budget
The Peter G. Peterson Foundation analysis of Congressional Budget Office's February 2013 "Budget and Economic Outlook" report: CBO Report Finds Historically High Debt Persists Throughout the Decade.
https://www.pgpf.org/analysis/cbo-report-finds-historically-high-debt-persists-throughout-the-decade
The Foundation's assessment: The President's budget includes some policies that would begin to address the fundamental drivers of our long-term deficits, but its proposals are too modest to put the budget on a plausible and sustainable path for the long run.
https://www.pgpf.org/press-release/2013/04/pgpf-analysis-of-president-obamas-fiscal-year-2014-budget
The Peter G. Peterson releases a new analysis and infographic to help illustrate and define the nation's ongoing long-term fiscal challenges.
Michael A. Peterson releases a statement on the Congressional Budget Office's budget and economic outlook.