PGPF Analysis of "Fiscal Cliff" Deal
Recent budget reforms have not significantly improved the nation’s long-term fiscal outlook, according to a report released today by the Peter G. Peterson Foundation.
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Recent budget reforms have not significantly improved the nation’s long-term fiscal outlook, according to a report released today by the Peter G. Peterson Foundation.
The United States spends more on defense than the next 9 countries combined.
Increasing the debt ceiling allows the Treasury to borrow funds to pay for government obligations that have already been incurred as the result of laws and budgets approved by the President and Congress.
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
Social Security is the largest single program in the federal budget and makes up approximately one quarter of total federal spending.
https://www.pgpf.org/budget-basics/how-does-social-security-work
Each year, some of the revenue the federal government collects comes from various taxes. In 2012, taxpayers paid almost $2.5 trillion, which the government used to partially fund $3.5 trillion worth of spending on Social Security, health care, and other programs in areas such as defense and education. The remainder of spending was funded through deficits.
The growing cost of prescription drugs presents a significant challenge to the quality and affordability of healthcare in the United States.
The Congressional Budget Office's latest Budget and Economic Outlook provides sobering new evidence that our nation's fiscal policies are on an unsustainable and uncertain path.
https://www.pgpf.org/analysis/analysis-of-cbo%E2%80%99s-budget-outlook-fiscal-years-2012-2022
One issue that most lawmakers and voters agree on is that our tax system needs reform.
https://www.pgpf.org/infographic/how-the-us-tax-system-works
The top 20 percent of income earners receive over half the value of major tax expenditures.
https://www.pgpf.org/Chart-Archive/0199_distribution_tax_expenditures