This Fiscal New Year May Mark a Permanent Return to Trillion-Dollar Deficits
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.
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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.
A new paper explores policy options that foster greater economic opportunity and mobility.
https://www.pgpf.org/blog/new-report-policy-options-for-improving-economic-opportunity-and-mobility
CBO reports that the fiscal outlook is dramatically worse than it was last year, primarily due to the fiscally irresponsible tax legislation and budget deal.
https://www.pgpf.org/blog/2018/04/a-return-to-trillion-dollar-deficits
As Congress prepares to reconvene next week, lawmakers prepare for conflicts over the approaching fiscal year end.
https://www.pgpf.org/blog/2016/08/this-month-in-fiscal-news-august-2016
While the Tax Cuts and Jobs Act of 2017 will likely boost economic growth in the near term, the effects of the legislation are temporary.
Without income from Social Security, two thirds of the elderly would be considered poor.
https://www.pgpf.org/blog/2018/09/what-effect-does-social-security-have-on-poverty
Lower levels of debt allow governments to respond more effectively to a recession or financial crisis.
It’s important for lawmakers to consider the many available policy options for improving that outlook.
https://www.pgpf.org/blog/2018/12/121-ways-we-can-reduce-the-deficit-according-to-cbo
Significant damage was done to America’s fiscal outlook over the past year.
Federal debt is already at its highest level since 1950 and is projected to climb to 152 percent of GDP under current law by 2048 — by far an all-time high.
https://www.pgpf.org/blog/2018/06/four-key-takeaways-from-the-cbo-2018-long-term-outlook