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“By any measure, the state of the Union’s fiscal outlook is unsustainable, and getting worse,” said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
Powell noted that the current economic expansion is the longest on record and emphasized the need to consider the long-term implications of fiscal policy.
Spending on foreign affairs accounts for slightly more than 1 percent of total federal spending.
https://www.pgpf.org/chart-archive/0239_foreign_affairs_spending
Defense spending covers a wide range of activities.
https://www.pgpf.org/chart-archive/0314_defense_spending_categories
The composition of defense spending has changed over time.
https://www.pgpf.org/chart-archive/0315_defense_spending_change
Defense spending is projected to stay below its historical share of GDP.
The national debt is on an unsustainable path.
https://www.pgpf.org/chart-archive/0202_federal-debt-proj-since-1930
The proportion of the population who are uninsured began increasing in 2017.
Despite recent declines, U.S. household debt is still very high relative to disposable income.
The U.S. personal saving rate has fallen sharply over the past 50 years and remains low
