CBO: President’s Budget Fails to Put Nation on Fiscally Sustainable Path
CBO’s estimate of the cumulative deficit over the next 10 years totals $2.3 trillion more than the Administration had estimated.
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CBO’s estimate of the cumulative deficit over the next 10 years totals $2.3 trillion more than the Administration had estimated.
“Reaching $23 trillion in debt on Halloween is a scary milestone for our economy and the next generation, but Washington shows no fear," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for December 2019.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-december-2019
As Election Day approaches, the nation’s fiscal health remains a top concern for voters.
https://www.pgpf.org/press-release/2016/10/fci-press-release
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for October 2019.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-october-2019
Powell noted that the current economic expansion is the longest on record and emphasized the need to consider the long-term implications of fiscal policy.
Outside of the recent recession caused by the financial crisis and its aftermath, the U.S. government has never witnessed deficits that exceeded $1 trillion.
CBO projects that, on our current path, the deficit will reach nearly $1 trillion next year and will total $12.4 trillion over the ten-year period from 2019.
https://www.pgpf.org/analysis/2018/04/cbo-report-outlines-dramatically-worse-fiscal-outlook
“As America’s leaders consider costly new spending proposals and tax cuts, today’s CBO report is a timely reality check," Michael A. Peterson, CEO of the Peter G. Peterson Foundation
https://www.pgpf.org/press-release/2019/06/Peterson-Foundation-long-term-budget-outlook
The House and Senate must show leadership in key issues facing the nation, like finding consensus on a $90 billion budget gap before the end of the fiscal year, or next month’s looming debt ceiling debate.
https://www.pgpf.org/press-release/infographic-%E2%80%94-welcome-back-congress