$1 Trillion Deficits Are Projected for the Foreseeable Future
The federal deficit is projected to be over $1 trillion each year for the next 10 years, according to the Office of Management and Budget.
Read MoreThe Ratio of Workers to Social Security Beneficiaries Is at a Low and Projected to Decline Further
Social Security has been a cornerstone of economic security for almost 90 years, but the program is on unsound footing.
Read MoreNational Debt to Double in Size and Other Key Takeaways from the CBO Long-Term Outlook
The pandemic exacerbated the nation’s fiscal trajectory, but the more consequential underlying problem is the structural mismatch between spending and revenues.
Read MoreWhy Are Americans Working Longer?
Over the past thirty years, the average age of retirement has increased from 62 to 65 years old.
Read MoreWill Allowing Medicare to Negotiate Prices of Prescription Drugs Result in Cost Savings?
The price of prescription drugs in the United States is high and rising, with costly consequences both for consumers and for the federal balance sheet.
Read MoreNational Debt Could Be Over Twice the Size of the Economy in Just 30 Years
GAO projects that public debt could rise from around 100 percent of gross GDP at the end of fiscal year 2021 to 217 percent in 2050.
Read MoreThe Federal Reserve Will Begin Reducing Its Holdings of Treasury Notes and Bonds
The Fed recently announced it will begin reducing the size of its balance sheet this month to combat high inflation and a tight labor market.
Read More8 Startling Facts About the U.S. Fiscal Outlook
At the end of May, the nonpartisan Congressional Budget Office (CBO) released new projections of the nation’s fiscal and economic outlook, their first report since July 2021.
Read MoreFive Charts about the Future of Social Security and Medicare
The Social Security and Medicare Trustees released their annual reports, which show that these vital programs are on an unsustainable path.
Read MoreInterest Costs on the National Debt Set to Reach Historic Highs in the Next Decade
Driven by rising interest rates and the accumulation of federal debt, interest will nearly triple in the next 10 years and reach a historic high relative to the size of the economy by 2032.
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