After the Supercommittee, Fiscal Policy Questions Still Have to be Addressed
The end of the supercommittee doesn’t mean the end of the fiscal policy debate in Washington.
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The end of the supercommittee doesn’t mean the end of the fiscal policy debate in Washington.
The combined Old Age and Survivors’ Insurance and Disability Insurance Trust Funds, commonly referred to as the “Social Security Trust Funds,” will be fully depleted by 2033.
https://www.pgpf.org/analysis/social-security-faces-major-financial-challenges
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.
Each proposal presents a distinct vision of the role of the federal government in our economy.
https://www.pgpf.org/analysis/fiscal-year-2013-budget-proposals
The Social Security Trustees's 2011 financial report warns that Social Security is in a weakened financial position in the short run and in an unsustainable condition in the long run.
https://www.pgpf.org/analysis/financial-condition-of-social-security
This outlook is particularly worrisome because the baby boom generation is beginning to retire and will place growing demands on Social Security, Medicare, and Medicaid in the 2020s.
Higher short- and long-term Treasury rates mean that the federal government's borrowing costs will also rise.
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.
Under the GAO’s most realistic fiscal scenario, debt held by the public will exceed 109 percent of GDP by 2020.
The updated 2010 projection is a slight improvement over CBO ‘s March estimate primarily as a result of higher than expected corporate revenues and receipts from the Federal Reserve.
https://www.pgpf.org/analysis/cbo%E2%80%99s-august-2010-budget-outlook