CBO Report Highlights America’s Unsustainable — and Deteriorating — Fiscal Outlook
The latest report from the nonpartisan Congressional Budget Office (CBO) reiterates that the federal budget is on an unsustainable trajectory.
The search found 381 results in 0.545 seconds.
The latest report from the nonpartisan Congressional Budget Office (CBO) reiterates that the federal budget is on an unsustainable trajectory.
Each year, some of the revenue the federal government collects comes from various taxes. In 2012, taxpayers paid almost $2.5 trillion, which the government used to partially fund $3.5 trillion worth of spending on Social Security, health care, and other programs in areas such as defense and education. The remainder of spending was funded through deficits.
The PGPF chart pack illustrates that budget-making involves many competing priorities, limited resources, and complex issues.
Here are the top ten spending categories for the federal budget.
https://www.pgpf.org/budget-basics/top-10-largest-budget-functions
The federal government is slated to borrow about $1.5 trillion this year, and that number is projected to nearly double over the next decade.
As policymakers consider how best to address our looming fiscal challenges, there is a growing debate about whether the U.S. can reduce defense spending without jeopardizing its national security.
Most Medicaid dollars are spent on disabled and elderly beneficiaries, whose incomes and financial resources are low enough to qualify for the program.
https://www.pgpf.org/budget-basics/who-benefits-from-medicaid
Even party extremes want bipartisan progress: 93% of Liberal Democrats and 85% of Tea Party supporters strongly agree that both parties should work together to solve our long-term fiscal and economic problems.
67% of registered voters strongly agree that "I am willing to do my part to reduce the national debt, as long as other people also do their part."
Interest costs are on track to become the largest category of spending in the federal budget.
https://www.pgpf.org/budget-basics/what-are-interest-costs-on-the-national-debt