Budget Process Reform Principles
Here are principles for reform to help ensure that our budget process is conducive to fiscally responsible policymaking.
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Here are principles for reform to help ensure that our budget process is conducive to fiscally responsible policymaking.
Tax reform done right will promote economic growth, increase fairness and simplicity, and improve the nation’s fiscal outlook.
Under current law, federal debt is now projected to reach 150 percent of GDP within 30 years — by far an all-time high.
The budget projections from the Congressional Budget Office (CBO) in August reaffirm the perilous path of deficits and debt expected over the next decade.
If lawmakers do not agree on raising or suspending the debt limit before the extraordinary measures are exhausted, there would be severe consequences.
https://www.pgpf.org/analysis/2023/06/debt-ceiling-update-whats-at-stake
Higher short- and long-term Treasury rates mean that the federal government's borrowing costs will also rise.
The report focuses on the fiscal conditions in six heavily populated states which together account for a third of the nation's population and almost 40 cents of every dollar in spending by state and local governments.
https://www.pgpf.org/analysis/state-budget-crisis-task-force
The Congressional Budget Office's latest Budget and Economic Outlook provides sobering new evidence that our nation's fiscal policies are on an unsustainable and uncertain path.
https://www.pgpf.org/analysis/analysis-of-cbo%E2%80%99s-budget-outlook-fiscal-years-2012-2022
Under current policies, publicly held debt is projected to increase from 73 percent of gross domestic product in 2012 to 83 percent in 2023.
The nonpartisan Congressional Budget Office has released a mid-year update to its projections of the nation’s federal finances and economic health.