Budget Basics: Spending Primer
The U.S. spent $187 billion on interest payments alone in 2009.
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The U.S. spent $187 billion on interest payments alone in 2009.
The Peter G. Peterson Foundation releases a statement on the Fiscal Commission.
The United States, by far, spends the greatest amount on military (in nominal terms) than any other country.
https://www.pgpf.org/analysis/why-defense-matters-for-deficit-reduction
The Peter G. Peterson Foundation presents a primer on the federal budget.
https://www.pgpf.org/budget-basics/the-federal-budget-primer
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
Highest ranking economic officials from both parties foresee another U.S. economic crisis within 10 years unless the country takes immediate action on structural deficit.
According to the Joint Committee on Taxation, the provisions in this agreement will add $857.8 billion to the deficit by 2020.
https://www.pgpf.org/analysis/2010/12/compromise-tax-framework-agreement
Medicare’s financial problems affect the entire budget, and are largely responsible for projected increases in federal deficits.
https://www.pgpf.org/analysis/the-financial-condition-of-medicare
While proposals to raise the retirement age are intended to improve the financial health of the Social Security program, GAO finds that such changes could produce an opposite result, while also having an adverse impact on some of society’s most vulnerable members.
Making changes to defense, health care and Social Security will help us reduce our debt, and also leave money to fund other critical responsibilities and invest in our future.
https://www.pgpf.org/budget-basics/the-other-20-of-federal-spending