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A key assessment of poverty in America is the Official Poverty Measure (OPM), which is calculated by the United States Census Bureau using a range of income and economic data.
The federal budget is on an unsustainable and damaging fiscal trajectory, according to a new report from the non-partisan Congressional Budget Office.
Although the budget would achieve some deficit reduction on paper under the administration’s calculations, it fails to address the key drivers of our long-term debt and relies on overly-optimistic assumptions for economic growth.
Over the past decade, the United States has added trillions of dollars to its national debt. Much of that growth in debt occurred as a result of the Great Recession and the fiscal policy response to it.
The budget projections released by the Congressional Budget Office (CBO) in August reaffirm the perilous path of deficits and debt expected over the next decade.
Debt held by the public would reach record levels relative to the size of the economy within the next two decades, and possibly as soon as 2032 — just 13 years from now.
CBO projects that if current laws remain in place, federal debt will rise to 144 percent of gross domestic product (GDP) within 30 years – far exceeding its all-time high, and nearly doubling today’s level.
The words debt and deficit come up frequently in debates and conversations about the policy decisions that lawmakers face. The two concepts are similar, but are often confused.
The rising cost of prescription drugs is a key driver of overall healthcare spending in the U.S. This trend has significant implications not only for Americans who rely on medications, but also for our nation’s budget and fiscal outlook.