Federal Deficit and Debt: June 2023
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for June 2023.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-june-2023
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Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for June 2023.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-june-2023
Similar to previous years, this budget largely relies on very optimistic projections of economic growth and unlikely budget cuts to reduce the deficit.
Understanding what’s happening on Capitol Hill requires an understanding of the Congressional budget process — which is notoriously technical, complex and arcane.
President Trump released his fourth budget, which outlines the administration's policy proposals, budget projections, and economic forecast for the next decade.
Across the political spectrum, there are many policy options that could address our fiscal challenges and build a stronger, more sustainable economic future.
Climate and weather-related natural disasters are becoming increasingly frequent. In addition to endangering lives, they are economically costly.
https://www.pgpf.org/budget-basics/what-is-the-disaster-relief-fund
The Peter G. Peterson Foundation’s fifth annual Fiscal Summit convened thought leaders and policymakers to explore the connection between fiscal health and economic strength and what we can to to promote both.
https://www.pgpf.org/what-we-are-doing/fiscal-summit/2014-fiscal-summit-our-economic-future
The economy goes through cyclical movements over time, with periods of growth followed by downturns. To help improve responsiveness to fluctuations in the business cycle, a number of important programs in the federal budget automatically increase or restrain spending depending on economic conditions.
https://www.pgpf.org/budget-basics/what-are-automatic-stabilizers-and-how-do-they-affect-the-budget
In 2008, the Peter G. Peterson Foundation was established with the goal of preserving the American Dream for the next generation. My father saw our high and rising debt as a transcendent threat to our future economy – posing a risk to every American, and our leadership role in the world.
Under current law, federal debt is now projected to reach 150 percent of GDP within 30 years — by far an all-time high.