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The report anticipates that in 2020 — for the first time since 1982 — the program’s total costs will exceed its total income.
“The writing on the wall couldn’t be any more clear: Social Security and Medicare remain on a dangerously unsustainable path," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
“Our national debt is so large, we’re already paying more than $1 billion every day on interest, and that’s growing fast,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2022/09/fci-press-release
If we regard the U.S. government as a firm, this firm is in a sticky situation in which the valuation of its cash flows is below the amount of its outstanding liability.
“The most important takeaway from today’s CBO report is that interest costs are higher, adding to an already unsustainable fiscal outlook," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
Medicare’s financial problems affect the entire budget, and are largely responsible for projected increases in federal deficits.
https://www.pgpf.org/analysis/the-financial-condition-of-medicare
In 2022, America faces key questions about rising inflation, new COVID variants, growing national debt and an uncertain economic recovery. To help shed light on a complex set of factors and indicators, the Peterson Foundation brought together two leading experts for the latest edition of the Economic Forum.
Significant damage was done to America’s fiscal outlook over the past year.
Five students from the University of Virginia have been awarded first prize in the nationwide Up to Us competition — a first-of-its-kind, six-week challenge to engage young people on college campuses across the country on the federal government's long-term debt.
Our most popular charts from 2016 illustrate the nation's fiscal challenges in areas like defense spending, healthcare, and tax reform.
https://www.pgpf.org/blog/2016/12/top-7-fiscal-charts-from-2016