Analysis: The President's FY 2017 Budget
President Obama's budget keeps the debt from rising as a share of the economy, but it does not address the key drivers of our long-term unsustainable debt.
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President Obama's budget keeps the debt from rising as a share of the economy, but it does not address the key drivers of our long-term unsustainable debt.
The lack of a long-term solution for federal funding for transportation creates uncertainty, which is disruptive for the planning of construction projects.
https://www.pgpf.org/budget-basics/more-stop-and-go-financing-of-highway-trust-fund
The U.S. spent $187 billion on interest payments alone in 2009.
Establishing a framework for long-term fiscal sustainability will narrow the gap between federal revenues and spending, and, by doing so, improve prospects for economic growth.
The report projects that in 2018 — for the first time since 1982 — the program’s total costs will exceed its total income.
All three budget plans achieve deficit reduction within the 10-year window relative to current law, though they make different choices on revenues and spending levels for particular programs and achieve different results.
Under the president’s budget, federal debt will remain historically high, roughly double its average over the past 50 years.
https://www.pgpf.org/analysis/presidents-budget-not-enough-to-solve-our-long-term-fiscal-challenges
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.
The nation's long-term fiscal outlook is unsustainable. Publicly held debt currently equals 70 percent of gross domestic product, the most common measure of an economy's size.
https://www.pgpf.org/budget-basics/state-of-the-unions-finances/introduction
These projections provide fresh evidence that the nation’s fiscal policy is on an unsustainable course and changes in policy will be needed.