Analysis: The President's FY 2017 Budget
President Obama's budget keeps the debt from rising as a share of the economy, but it does not address the key drivers of our long-term unsustainable debt.
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President Obama's budget keeps the debt from rising as a share of the economy, but it does not address the key drivers of our long-term unsustainable debt.
The nonpartisan CBO projects that the federal debt would reach 183% of GDP within 25 years.
https://www.pgpf.org/analysis/congressional-budget-offices-2014-long-term-budget-outlook
Federal debt would rise to 78 percent of GDP in 2014 — higher than it has been at any point in our history since 1950.
https://www.pgpf.org/analysis/analysis-of-the-president%E2%80%99s-fiscal-year-2014-budget
The Peter G. Peterson Foundation analysis of Congressional Budget Office's February 2013 "Budget and Economic Outlook" report: CBO Report Finds Historically High Debt Persists Throughout the Decade.
https://www.pgpf.org/analysis/cbo-report-finds-historically-high-debt-persists-throughout-the-decade
There will be a number of consequences from a gradual increase in the federal funds rate over time.
The president and Congress must reach a compromise that reconciles their disagreements before September 30, or else they will risk a partial government shutdown.
https://www.pgpf.org/analysis/comparing-the-congressional-and-presidential-budgets
National debt could climb from 74% of GDP in 2014 to 166% of GDP in 2039.
https://www.pgpf.org/analysis/gao-sends-clear-warning-long-term-debt-is-on-an-unsustainable-path
While there is disagreement on specific remedies, there is broad consensus that our current tax code is broken.
https://www.pgpf.org/analysis/2013-fall-fiscal-agenda-%E2%80%94-tax-reform
While proposals to raise the retirement age are intended to improve the financial health of the Social Security program, GAO finds that such changes could produce an opposite result, while also having an adverse impact on some of society’s most vulnerable members.
Though the economy continues its recovery and we have made some progress on deficits, our deficits will begin growing again soon, and major long-term fiscal challenges remain.