Welcome Back, Congress 2014
In the legislative days remaining before the 113th Congress adjourns, there is much urgent work to be done to put the nation on a more sustainable and predictable path, now and in the future.
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In the legislative days remaining before the 113th Congress adjourns, there is much urgent work to be done to put the nation on a more sustainable and predictable path, now and in the future.
According to the report, reaching primary balance would require a reduction of $255 billion in the projected deficit in 2015.
https://www.pgpf.org/analysis/cap-shows-what-it-might-take-to-balance-the-budget
The latest budget outlook released by CBO is the first to fully capture the budgetary impact of the pandemic.
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.
The long-term budget outlook has deteriorated significantly since last year, when CBO projected debt would reach 111% of GDP in 30 years under current law.
https://www.pgpf.org/analysis/2016/07/cbo-long-term-budget-outlook-worse-than-last-year
As Congress returns from its August recess, lawmakers face a to-do list filled with important fiscal deadlines.
The Congressional Budget Office’s new long-term projections show that the federal budget is on an unsustainable path.
https://www.pgpf.org/analysis/cbo-2013-long-term-budget-outlook-analysis
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.
Each proposal presents a distinct vision of the role of the federal government in our economy.
https://www.pgpf.org/analysis/fiscal-year-2013-budget-proposals
The combined Social Security trust funds are projected to be fully depleted by 2034 — just 18 years from now.
https://www.pgpf.org/analysis/2016/06/trustees-warn-social-security-in-financial-trouble