Why Fiscal Space Matters
Lower levels of debt allow governments to respond more effectively to a recession or financial crisis.
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Lower levels of debt allow governments to respond more effectively to a recession or financial crisis.
This year’s report demonstrates why lawmakers should focus their attention toward improving our nation’s debt path as soon as possible.
https://www.pgpf.org/blog/2019/07/why-the-2019-long-term-budget-outlook-is-more-bad-news
In around six years, the national debt will likely exceed its all-time high of 106 percent of gross domestic product (GDP), which occurred in 1946.
One of the largest drivers of that rising debt is federal spending on major healthcare programs, such as Medicare and Medicaid.
Federal debt is already at its highest level since 1950 and is projected to climb to an all-time high.
https://www.pgpf.org/blog/2017/03/four-key-takeaways-from-the-cbo-long-term
Federal debt is already at its highest level since 1950 and is projected to climb to 152 percent of GDP under current law by 2048 — by far an all-time high.
https://www.pgpf.org/blog/2018/06/four-key-takeaways-from-the-cbo-2018-long-term-outlook
An overwhelming majority of voters (91%) feel that a stable fiscal foundation will lead to growth.
https://www.pgpf.org/blog/infographic-fiscal-health-leads-to-economic-strength
Lawmakers should pursue policies that don’t make our fiscal outlook even worse.
https://www.pgpf.org/blog/2017/10/tax-cuts-then-and-now-the-debt-is-much-higher
Projections of the long-term budget outlook have deteriorated significantly since last year.
https://www.pgpf.org/blog/2016/07/four-key-takeaways-from-the-long-term-budget-outlook
Today, the nonpartisan Congressional Budget Office (CBO) released its Long-Term Budget Outlook, which offers a look at the nation’s fiscal health through 2052.