CBO: President’s Budget Fails to Put Nation on Fiscally Sustainable Path
CBO’s estimate of the cumulative deficit over the next 10 years totals $2.3 trillion more than the Administration had estimated.
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CBO’s estimate of the cumulative deficit over the next 10 years totals $2.3 trillion more than the Administration had estimated.
Relative to the GAO’s last update of their long-term simulation, the nation’s fiscal condition has deteriorated.
The 114th Congress has a new opportunity to address our debt and long-term fiscal challenges, strengthen our economy, and put our nation's fiscal future on a sustainable path.
The President’s budget reflects a dramatically worse fiscal outlook than last year’s version released just nine months ago.
Under the current policy scenario, the federal government is projected to run permanent primary spending deficits.
https://www.pgpf.org/analysis/government-accountability-office-fall-2012-budget-outlook
While countries continue to recover from the crisis, the international fiscal outlook has not substantially improved.
https://www.pgpf.org/analysis/fiscal-monitor-series-navigating-the-fiscal-challenges
The report anticipates that in 2020 — for the first time since 1982 — the program’s total costs will exceed its total income.
CBO projects that, on our current path, the deficit will reach nearly $1 trillion next year and will total $12.4 trillion over the ten-year period from 2019.
https://www.pgpf.org/analysis/2018/04/cbo-report-outlines-dramatically-worse-fiscal-outlook
Even as Congressional leaders and the president discuss a potential temporary solution to the current stalemate over the government shutdown and the debt ceiling, the repeated cycle of lurching from crisis to crisis has significant and real costs to the U.S. economy.
https://www.pgpf.org/analysis/the-cost-of-crisis-driven-fiscal-policy
As Congress returns from its August recess, lawmakers face a to-do list filled with important fiscal deadlines.