Budget Basics: The Challenge
America faces a growing crisis. Our federal government has accumulated a $13.6 trillion debt over the last few decades, and this debt is expected to grow significantly in coming years.
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America faces a growing crisis. Our federal government has accumulated a $13.6 trillion debt over the last few decades, and this debt is expected to grow significantly in coming years.
Controlling our structural budget deficits will require major changes in budget policy.
https://www.pgpf.org/budget-basics/state-of-the-unions-finances/the-elements
While a 10-year window is currently the standard, the number of years covered by budget resolutions has varied.
The Peter G. Peterson Foundation presents a primer on the federal budget.
https://www.pgpf.org/budget-basics/the-federal-budget-primer
Through easy-to-understand language and charts, the State of the Union’s Finances explains the enormous fiscal challenges we face, based on the official financial statements of the U.S. government.
https://www.pgpf.org/budget-basics/state-of-the-unions-finances
Learn about steps you can take to help cure our fiscal ills.
https://www.pgpf.org/budget-basics/download-the-citizen%E2%80%99s-guide
Social Security is an important program that is part of the fabric of America. We must ensure that Social Security is available for future generations.
https://www.pgpf.org/budget-basics/making-social-security-sustainable
Sequestration is a process that cuts federal spending through across-the-board reductions.
https://www.pgpf.org/budget-basics/what-you-should-know-about-the-sequester
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For more information about America’s fiscal challenge and potential solutions, visit the Peter G. Peterson Foundation at www.pgpf.org. The following websites also provide a wealth of information on the U.S. budget and various policy areas.
https://www.pgpf.org/budget-basics/state-of-the-unions-finances/learn-more
The U.S. spent $187 billion on interest payments alone in 2009.