Statement from the Peterson Foundation on CBO's Updated Budget Projections
Michael Peterson released a statement today on the CBO's updated budget projections.
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Michael Peterson released a statement today on the CBO's updated budget projections.
Each year, through the budget process, the President and Congress have the opportunity to set priorities for the federal government, determining how much should be spent through appropriations for annually-funded programs, known as discretionary spending, and providing the opportunity to review entitlement programs and the tax code.
https://www.pgpf.org/budget-basics/federal-budget-process-a-primer
Medicare is a large share of the budget, and it is projected to grow.
https://www.pgpf.org/analysis/urgent-action-needed-to-shore-up-medicare-program
The combined Old Age and Survivors’ Insurance and Disability Insurance Trust Funds, commonly referred to as the “Social Security Trust Funds,” will be fully depleted by 2033.
https://www.pgpf.org/analysis/social-security-faces-major-financial-challenges