CBO Warns: Fiscal Outlook Remains Unsustainable
Under current law, federal debt is now projected to reach 150 percent of GDP within 30 years — by far an all-time high.
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Under current law, federal debt is now projected to reach 150 percent of GDP within 30 years — by far an all-time high.
Every year the Social Security and Medicare Boards of Trustees issue reports on the fiscal health of these vital programs.
https://www.pgpf.org/analysis/social-security-medicare-trustees-reports
The legislation is fiscally irresponsible and will add significantly to America's national debt.
https://www.pgpf.org/analysis/congress-passes-costly-and-unfunded-tax-legislation
The rapid growth in health care costs is the largest and fastest growing fiscal challenge.
CBO estimates that the number of uninsured under age 65 rose by 1 million people and anticipates the total to rise by another million people this year.
The latest budget outlook released by CBO is the first to fully capture the budgetary impact of the pandemic.
Medicare faces significant financial challenges in future years because of rising healthcare spending and an aging population.
https://www.pgpf.org/analysis/2018/07/trustees-funding-challenges-threaten-medicares-future
The latest report from the nonpartisan Congressional Budget Office (CBO) reiterates that the federal budget is on an unsustainable trajectory.
Federal debt will rise to 144 percent of GDP within 30 years — far exceeding its all-time high, and nearly doubling today's level.
https://www.pgpf.org/analysis/2019/06/cbo-warns-historic-debt-levels-pose-substantial-risks
The report anticipates that in 2020 — for the first time since 1982 — the program’s total costs will exceed its total income.