Social Security Faces Serious Financial Shortfalls, and Other Takeaways from the Trustees Report
Without reform, the Social Security Trust Funds will soon be depleted and unable to pay full benefits.
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Without reform, the Social Security Trust Funds will soon be depleted and unable to pay full benefits.
Despite a growing economy and low unemployment, federal budget deficits are projected to grow over the next 10 years.
https://www.pgpf.org/blog/2019/01/five-charts-that-summarize-cbos-budget-and-economic-outlook
A strong fiscal outlook is an essential foundation for a growing, thriving economy.
https://www.pgpf.org/infographic/infographic-how-does-the-national-debt-affect-the-economy
Over the next several weeks, as the President and Congress confront the "fiscal cliff," they will have a big opportunity to make the right choice.
“Across party lines, vast majorities of voters believe that divided government brings an important responsibility for our leaders to work together to secure our fiscal future,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2023/01/fci-press-release
One issue that most lawmakers and voters agree on is that our tax system needs reform.
https://www.pgpf.org/infographic/how-the-us-tax-system-works
Americans want to live in a nation with widespread opportunity, a positive leadership role in the world, and a bright economic future for generations to come.
One of the largest drivers of that rising debt is federal spending on major healthcare programs, such as Medicare and Medicaid.
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for November 2022.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-november-2022
The answer to how to address the multitude of challenges and their disproportionate impact is to pay for it — set priorities and ensure there is revenue to meet those priorities — not through smoke and mirrors or budget gimmicks.
https://www.pgpf.org/expert-views/americas-fiscal-and-economic-outlook/debt-matters