Long-Term Fiscal Balance and the Social Security Trust Fund
The projected shortfall of future Social Security revenues is the result of political action, not the absence of policy options for addressing this issue.
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The projected shortfall of future Social Security revenues is the result of political action, not the absence of policy options for addressing this issue.
The latest budget outlook released by CBO is the first to fully capture the budgetary impact of the pandemic.
“It’s rare to see bipartisan agreement on any issue, yet overwhelming majorities of American voters from both parties want their leaders to fully pay for this reconciliation package,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2021/08/fci-press-release
“As overcoming this pandemic continues to be a top priority, voters are also becoming more concerned about America’s rapidly worsening fiscal condition,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2021/02/fci-press-release
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for January 2020.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-january-2020
“As this crisis continues, lawmakers are taking necessary action to confront the pandemic and help our nation recover. At the same time, voters are very concerned about our nation’s fiscal and economic future,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2020/05/fci-press-release
The federal budget deficit rose to $666 billion for fiscal year 2017 — an increase of around $80 billion from the previous year.
https://www.pgpf.org/blog/2017/10/federal-budget-deficits-rising-even-before-tax-cuts
While Congress and the President move forward on a budget deal that will add $1.7 trillion to the debt over the next 10 years, voters across party lines are increasingly concerned about the nation’s finances.
https://www.pgpf.org/press-release/2019/07/fci-press-release
“Washington’s failure to address the national debt and critical budgetary issues has a direct negative effect on Americans’ confidence,” said Michael A. Peterson, CEO of the Peterson Foundation.
Federal debt will rise to 144 percent of GDP within 30 years — far exceeding its all-time high, and nearly doubling today's level.
https://www.pgpf.org/analysis/2019/06/cbo-warns-historic-debt-levels-pose-substantial-risks