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Federal debt is already at its highest level as a percentage of GDP since 1950 and would exceed its all-time high by 2034 under current law.
https://www.pgpf.org/analysis/2018/07/cbo-warns-historic-debt-levels-threaten-economy
CBO estimates that in 2017 the number of uninsured people under age 65 rose by 1 million people and they anticipate the total to rise by another million people this year.
CBO’s estimate of the cumulative deficit over the next 10 years totals $2.3 trillion more than the Administration had estimated.
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 2019–2028.
https://www.pgpf.org/analysis/2018/04/cbo-report-outlines-dramatically-worse-fiscal-outlook
The President’s budget reflects a dramatically worse fiscal outlook than last year’s version released just nine months ago.
Reform that eliminates virtually all tax expenditures allows for rates to be lowered significantly.
The paper puts real numbers behind different scenarios for a structure for tax reform: eliminating income tax expenditures to enable lower tax rates.
As Congress returns from its August recess, lawmakers face a to-do list filled with important fiscal deadlines.
By making gradual changes to federal spending and revenue, lawmakers can not only stabilize our fiscal outlook, but provide long-run economic benefits for American families (in terms of real GNP growth) without inflicting undue damage on the U.S. economy in the near term.
An aging population and rising per-enrollee healthcare costs will drive sharp increases in Medicare spending, which will not keep pace with the program’s funding sources.
https://www.pgpf.org/analysis/2017/07/medicare-trustees-warn-of-serious-financial-shortfalls