Analysis: CBO 2015 Long-Term Budget Outlook
The nonpartisan Congressional Budget Office projects that the federal debt could reach 175% of GDP by 2040.
https://www.pgpf.org/analysis/congressional-budget-offices-2015-long-term-budget-outlook
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The nonpartisan Congressional Budget Office projects that the federal debt could reach 175% of GDP by 2040.
https://www.pgpf.org/analysis/congressional-budget-offices-2015-long-term-budget-outlook
After months of negotiations, with default looming, Congress passed and the President signed the Budget Control Act of 2011, which raises the debt ceiling and puts a process in place for reducing the deficit.
https://www.pgpf.org/analysis/peter-g-peterson-foundation-analysis-of-the-budget-control-act-of-2011
The paper puts real numbers behind different scenarios for a structure for tax reform: eliminating income tax expenditures to enable lower tax rates.
The rapid growth in health care costs is the largest and fastest growing fiscal challenge.
By making gradual changes to federal spending and revenue, lawmakers can not only stabilize our fiscal outlook, but also provide long-run economic benefits.
Federal debt would rise to 78 percent of GDP in 2014 — higher than it has been at any point in our history since 1950.
https://www.pgpf.org/analysis/analysis-of-the-president%E2%80%99s-fiscal-year-2014-budget
Under current spending and tax policies, federal debt would be on a path that climbs to about 200 percent of gross domestic product within 25 years, according to CBO.
A series of sudden, drastic changes to our nation's fiscal policies are slated to take place automatically at the end of this year — what many are calling the "Fiscal Cliff."
https://www.pgpf.org/analysis/the-fiscal-cliff-is-an-opportunity-for-long-term-action
Reform that eliminates virtually all tax expenditures allows for rates to be lowered significantly.
The Trustees urge lawmakers to enact legislation soon to put Medicare on a sustainable path.