Analysis: Happy Fiscal New Year 2016
Lawmakers should use the opportunities presented by the annual budgetary process to set policy priorities and provide more certainty about our nation’s fiscal policy.
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Lawmakers should use the opportunities presented by the annual budgetary process to set policy priorities and provide more certainty about our nation’s fiscal policy.
At $34 trillion and rising, the national debt threatens America’s economic future. Here are the top ten reasons why the national debt matters.
https://www.pgpf.org/top-10-reasons-why-the-national-debt-matters
This outlook is particularly worrisome because the baby boom generation is beginning to retire and will place growing demands on Social Security, Medicare, and Medicaid in the 2020s.
CBO projects that federal debt will remain at historically high levels over the next decade under current laws and warns that such high levels of debt could harm the economy.
https://www.pgpf.org/analysis/cbo-warns-fiscal-path-is-unsustainable-and-threatens-economic-growth
The nonpartisan Congressional Budget Office projects that the federal debt could reach 175% of GDP by 2040.
https://www.pgpf.org/analysis/congressional-budget-offices-2015-long-term-budget-outlook
A series of sudden, drastic changes to our nation's fiscal policies are slated to take place automatically at the end of this year — what many are calling the "Fiscal Cliff."
https://www.pgpf.org/analysis/the-fiscal-cliff-is-an-opportunity-for-long-term-action
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
If taxes are not increased or spending is not cut, CBO projects that interest costs will climb and federal debt will grow to levels that will damage our economy.
Here are principles for reform to help ensure that our budget process is conducive to fiscally responsible policymaking.
Tax reform done right will promote economic growth, increase fairness and simplicity, and improve the nation’s fiscal outlook.