Federal Deficit and Debt: July 2023
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for July 2023.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-July-2023
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Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for July 2023.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-July-2023
“Our high and rising national debt is a pressing issue for the future of the nation, and the August recess presents an opportunity for a conversation between lawmakers and constituents about solutions,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2023/07/fci-press-release
One of the largest drivers of that rising debt is federal spending on major healthcare programs, such as Medicare and Medicaid.
Many Americans, young and old, may be confused by the complex set of issues that comprise how the government raises revenues and allocates them.
https://www.pgpf.org/blog/2023/06/what-is-fiscal-policy-interactive-teaching-tools
“America’s fiscal outlook is more dangerous and daunting than ever, threatening our economy and the next generation."
“Voters understand the urgency of our fiscal challenges, and that’s why they want lawmakers to take concrete steps to secure our future,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2023/06/fci-press-release
If lawmakers do not agree on raising or suspending the debt limit before the extraordinary measures are exhausted, there would be severe consequences.
https://www.pgpf.org/analysis/2023/06/debt-ceiling-update-whats-at-stake
“As the national debt grows continually while the ceiling deadline inches closer, voters have an unprecedented level of concern about our fiscal outlook,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2023/05/fci-press-release
Spending for mandatory programs and net interest is projected to putpace all other non-interest spending.
https://www.pgpf.org/chart-archive/0174_SS_major_health_climb
Spending on the major healthcare programs, Social Security, and interest will continue to climb rapidly over the long term.
https://www.pgpf.org/chart-archive/0281_spending_to_climb_rapidly