CBO Analysis on President Obama's FY 2012 Budget
These projections provide fresh evidence that the nation’s fiscal policy is on an unsustainable course and changes in policy will be needed.
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These projections provide fresh evidence that the nation’s fiscal policy is on an unsustainable course and changes in policy will be needed.
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.
Relative to the GAO’s last update of their long-term simulation, the nation’s fiscal condition has deteriorated.
The President’s budget for Fiscal Year 2012 contains spending and revenue proposals for the remainder of the current year, as well as the coming decade.
The latest report by the CBO on the outlook for the U.S. budget and economy highlights the costs of the ongoing weakness in our economy and uncertain direction of our nation’s fiscal policies.
https://www.pgpf.org/analysis/summary-of-cbo-update-on-budget-and-economic-outlook
According to CBO, the fiscal condition of the United States has deteriorated since its last report issued in August.
https://www.pgpf.org/analysis/cbo%E2%80%99s-latest-budget-projections-a-deteriorating-fiscal-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.
Over the next 10 years, the spending caps are projected to reduce deficits by approximately $900 billion, and the Supercommittee is charged with finding $1.5 trillion of additional savings.
https://www.pgpf.org/analysis/long-term-implications-of-the-budget-control-act-of-2011
The Peter G. Peterson Foundation releases a statement on President Obama's proposed 2012 budget.
The Peterson Foundation cited new projections which demonstrate that $1.2 trillion in deficit reduction that fails to address the fundamental drivers of our growing debt will not stabilize the level of debt relative to the economy, which is the real test of any long-term fiscal plan.