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CBO projects that, on our current path, deficits will reach $1 trillion by 2023 and total $9.4 trillion over the next ten years.
https://www.pgpf.org/analysis/2017/01/CBO-warns-deficits-will-reach-1-trillion-in-2023
While the last minute passage of a continuing resolution avoided a government shutdown, the relief may be only temporary.
https://www.pgpf.org/analysis/2016/10/happy-fiscal-new-year-2017
CBO projects that the federal budget deficit will increase as a share of GDP for the first year since 2009.
https://www.pgpf.org/analysis/2016/08/CBO-deficits-are-back-on-the-rise
The long-term budget outlook has deteriorated significantly since last year, when CBO projected debt would reach 111 percent of GDP in 30 years under current law.
https://www.pgpf.org/analysis/2016/07/cbo-long-term-budget-outlook-worse-than-last-year
The combined Social Security trust funds are projected to be fully depleted by 2034 — just 18 years from now.
https://www.pgpf.org/analysis/2016/06/trustees-warn-social-security-in-financial-trouble
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/2016/06/medicare-trustees-warn-of-serious-financial-shortfalls
How do the House Budget and the President’s Budget differ?
Although President Obama’s budget keeps the debt from rising as a share of the economy over the next 10 years, it does not sufficiently address the key drivers of our long-term unsustainable debt.
The outlook for the federal budget has worsened considerably since last year, according to a new report.
