Why are Prescription Drug Prices Rising and How Do They Affect the U.S. Fiscal Outlook?
The rising cost of drugs has significant implications not only for Americans who rely on medications, but also for our nation's budget and fiscal outlook.
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The rising cost of drugs has significant implications not only for Americans who rely on medications, but also for our nation's budget and fiscal outlook.
It’s important for lawmakers to consider the many available policy options for improving that outlook.
https://www.pgpf.org/blog/2018/12/121-ways-we-can-reduce-the-deficit-according-to-cbo
With a divided government, an opportunity exists for lawmakers to seek and find common ground on the nation’s pressing fiscal and economic challenges.
CBO finds that under the President’s budget, debt would remain at historically high levels over the next ten years.
https://www.pgpf.org/blog/cbo-analysis-of-the-presidents-fy-2016-budget
While this budget would be a step in the right direction, it does not adequately address the underlying structural imbalance that defines our fiscal outlook.
In 2017, Congress and the President enacted the Tax Cuts and Jobs Act (TCJA), which made significant changes to the tax code for individuals and corporations.
https://www.pgpf.org/blog/2024/03/the-next-fiscal-cliff-big-tax-decisions-to-make-in-2025
The U.S. economy was in its longest expansion since World War II. The pandemic, however, has altered that trajectory.
https://www.pgpf.org/blog/2020/05/how-the-coronavirus-has-affected-our-economic-outlook
The number of individuals experiencing long-term unemployment (lasting 27 weeks or longer) has quadrupled during the coronavirus (COVID-19) pandemic.
Under current law, the U.S. budget deficit will exceed $1 trillion each year beginning in 2022 and total $11.4 trillion over the upcoming decade.
Voters are deeply concerned about interest costs eating up more and more of the federal budget.