Budget Basics: What's at Stake with Discretionary Spending Cuts
Budget Explainer: What's at Stake with Discretionary Spending Cuts
https://www.pgpf.org/budget-basics/budget-explainer-whats-at-stake-with-discretionary-spending-cuts
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Budget Explainer: What's at Stake with Discretionary Spending Cuts
https://www.pgpf.org/budget-basics/budget-explainer-whats-at-stake-with-discretionary-spending-cuts
The nonpartisan Congressional Budget Office projects that the federal debt could reach 175% of GDP by 2040.
https://www.pgpf.org/analysis/congressional-budget-offices-2015-long-term-budget-outlook
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
Although the President's budget would make progress by reducing deficits and stabilizing the debt over the next ten years, federal debt would remain high by historical standards.
https://www.pgpf.org/analysis/summary-of-cbos-analysis-of-the-presidents-budget-for-fiscal-year-2014
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
CBO finds that the budget would not reach balance in 2027 as the administration projects.
https://www.pgpf.org/analysis/2017/07/cbo-debt-remains-high-under-presidents-budget
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 latest report by the CBO on the outlook for the U.S. budget and economy highlights the costs of the ongoing weakness in our economy and uncertain direction of our nation’s fiscal policies.
https://www.pgpf.org/analysis/summary-of-cbo-update-on-budget-and-economic-outlook
Over the next 10 years, the spending caps are projected to reduce deficits by approximately $900 billion, and the Supercommittee is charged with finding $1.5 trillion of additional savings.
https://www.pgpf.org/analysis/long-term-implications-of-the-budget-control-act-of-2011
Policymakers should build on the bipartisanship of this Act to work towards passing fiscal reforms that will put our nation on a sustainable fiscal path.
https://www.pgpf.org/analysis/understanding-the-bipartisan-budget-act-of-2015