CBO Report Highlights America’s Unsustainable — and Deteriorating — Fiscal Outlook
The latest report from the nonpartisan Congressional Budget Office (CBO) reiterates that the federal budget is on an unsustainable trajectory.
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The latest report from the nonpartisan Congressional Budget Office (CBO) reiterates that the federal budget is on an unsustainable trajectory.
Sequestration was designed to be a blunt instrument, whose arbitrary effects would be so undesirable that they would compel policymakers to reach compromise on budget legislation rather than allow the cuts to go into effect.
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.
The Peter G. Peterson Foundation has partnered with POLITICO to present the next Morning Money Breakfast Briefing.
https://www.pgpf.org/events/politico-morning-money-breakfast-briefing
Tax expenditures are often "spending in disguise" because they are used by Congress to direct resources to specific constituencies and priorities — much like spending programs.
https://www.pgpf.org/analysis/the-debate-over-tax-expenditures
Similar to previous years, this budget largely relies on very optimistic projections of economic growth and unlikely budget cuts to reduce the deficit.
The defense share of the federal budget has averaged 21 percent over the past two decades.
America faces a growing crisis. Our federal government has accumulated a $13.6 trillion debt over the last few decades, and this debt is expected to grow significantly in coming years.
Making changes to defense, health care and Social Security will help us reduce our debt, and also leave money to fund other critical responsibilities and invest in our future.
https://www.pgpf.org/budget-basics/the-other-20-of-federal-spending