Understanding the Budget
Policymakers use the federal budget process to establish spending priorities and identify revenue to pay for those activities.
https://www.pgpf.org/finding-solutions/understanding-the-budget
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Policymakers use the federal budget process to establish spending priorities and identify revenue to pay for those activities.
https://www.pgpf.org/finding-solutions/understanding-the-budget
Policy leaders and experts across the political spectrum have put forward a number of comprehensive plans to reduce America’s long-term debt and lay a strong foundation for future economic growth.
By making smart, strategic decisions about future national security requirements policymakers can ensure that our military is strong and that we are prepared to defend our nation from threats while also avoiding potential waste of precious national resources
Deficits would be even higher under an alternative fiscal scenario.
Tax expenditures can come in the form of exclusions, exemptions, deductions, and credits.
Social Security will run a cumulative cash deficit of $2.9 trillion between now and 2035.
https://www.pgpf.org/chart-archive/0030_social-security-deficits-gdp
On November 10, 2023, Moody’s Investors Service lowered its outlook on the United States’ credit rating from “stable” to “negative.”
It’s important for lawmakers to consider the many available policy options for improving that outlook.
https://www.pgpf.org/blog/2018/12/121-ways-we-can-reduce-the-deficit-according-to-cbo
The portion of health spending paid by the government is growing.
https://www.pgpf.org/chart-archive/0090-composition-health-spending
“Earlier this month, the Congressional Budget Office released new data showing that interest costs in 2024 will total a staggering $870 billion, a jump of 32 percent and more than $2 billion per day,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2024/02/fci-press-release