Statement from Foundation President, Michael A. Peterson, on Nov. 8th 2012 CBO Report
Statement from Foundation President, Michael A. Peterson, on Nov. 8th 2012 CBO Report
“This CBO report is yet another warning to our leaders in Washington that we must address the looming fiscal cliff, which is just 53 days away.
The fiscal cliff represents a moment of opportunity for policymakers, and could mark a positive turning point for the country’s fiscal future. Instead of allowing our economy to go over the fiscal cliff, or once again kicking the can on the necessary action on our deficits, leaders should seize this opportunity to pass a comprehensive, bipartisan plan that stabilizes the long-term debt and builds a stronger economic future.”
Further Reading
U.S. Healthcare System Ranks Seventh Worldwide — Innovative but Fiscally Unsustainable
Spending on healthcare in the United States has far outpaced other major healthcare systems without yielding better outcomes.
Infographic: How Are Capital Gains Taxed?
The capital gains tax, which is a levy on said profits, is categorized as part of individual income tax revenues, but it is administered at a lower rate than ordinary income.
Medicare’s Hospital Insurance Trust Fund Could Be Exhausted In 8 Years
Without reform, Medicare spending will continue to rise over the coming years — threatening the HI Trust Fund and placing immense pressure on the federal budget.