Voters' Fiscal Guide 2020
With the national debt at $26 trillion and counting, the nation’s fiscal health is a key issue for the 2020 campaign.
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With the national debt at $26 trillion and counting, the nation’s fiscal health is a key issue for the 2020 campaign.
They are burdened by record student debt. They are entering the workforce during a time of unprecedented economic uncertainty, in a nation with crumbling infrastructure, a climate in crisis, and rising inequality.
“This new report provides the latest evidence that our fiscal condition has worsened significantly since the pandemic began, and will need to be addressed once we’re through the COVID crisis,” said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
National security is both a vital priority and a significant part of the federal budget.
https://www.pgpf.org/infographic/infographic-the-facts-about-us-defense-spending
“By any measure, the state of the Union’s fiscal outlook is unsustainable, and getting worse,” said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
The United States spends more on defense than the next 9 countries combined.
The U.S. has historically devoted a larger share of its economy to defense than other members of the G-7.
Compensation and medical care make up about 40 percent of the defense budget.
https://www.pgpf.org/chart-archive/0216_compensation_defense_budget
Defense spending is projected to stay below its historical share of GDP.
Spending on foreign affairs accounts for slightly more than 1 percent of total federal spending.
https://www.pgpf.org/chart-archive/0239_foreign_affairs_spending