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Debt Held By Public Before Recessions
The United States was in a more precarious fiscal position in 2020 than it was at the onset of the last six recessions.
https://www.pgpf.org/chart-archive/0309_precarious_fiscal_position
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The United States was in a more precarious fiscal position in 2020 than it was at the onset of the last six recessions.
https://www.pgpf.org/chart-archive/0309_precarious_fiscal_position
On average, Medicare benefits far exceed taxes over an individual’s lifetime.
https://www.pgpf.org/chart-archive/0197_Medicare_lifetime_benefits
The latest report from the nonpartisan Congressional Budget Office (CBO) reiterates that the federal budget is on an unsustainable trajectory.
In order to balance our budget and reduce the amount of debt the government takes on each year, we must match the level of government revenues with the level of spending.
https://www.pgpf.org/budget-basics/where-the-money-comes-from-revenues-taxes
Federal taxes and transfers can help reduce disparities in income.
https://www.pgpf.org/chart-archive/0233_taxes-reduce-disparities
High income individuals receive a greater portion of their income from capital gains
https://www.pgpf.org/chart-archive/0316_capital_gains_income_group
The share of total pre-tax income has sharply increased for the wealthy, but decreased for low-income households.
The latest budget outlook released by CBO is the first to fully capture the budgetary impact of the pandemic.
The Peterson-Pew Commission on Budget Reform's second report, Getting Back in the Black, offers a detailed set of options to reform the federal budget process.
https://www.pgpf.org/what-we-are-doing/grants/peterson-pew-commission-report
Budget battles policymakers have engaged in have failed to produce reforms to address the true drivers of long-term national debt.
https://www.pgpf.org/analysis/averting-a-shutdown-the-numbers-behind-the-last-minute-budget-bill