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Child poverty reduced the size of the U.S. economy by an estimated $1 trillion dollars, or 5.4 percent of gross domestic product, in 2015, according to a new study.
https://www.pgpf.org/blog/2018/09/what-are-the-economic-costs-of-child-poverty
Recent research has found that Social Security is more effective at reducing poverty than previously believed. Without income from Social Security, two thirds of the elderly would be considered poor.
https://www.pgpf.org/blog/2018/09/what-effect-does-social-security-have-on-poverty
“This new CBO report shows just how much more dangerous the future looks if these tax cuts and spending increases are allowed to continue," said Michael A. Peterson, Chairman and CEO of the Peter G. Peterson Foundation.
Today's young adults are more likely to have student debt than their historical peers.
https://www.pgpf.org/chart-archive/0223_millennial_student_debt
Today's young adults face higher student debt burdens than their historical peers, even after adjusting for inflation.
https://www.pgpf.org/chart-archive/0226_millennial_student_debt_burden
Young college graduates today are entering the workforce with an unprecedented amount of student debt. How does student debt relate to the economic outlook for younger Americans and the finances of the U.S. government?
https://www.pgpf.org/blog/2018/07/the-facts-about-student-debt
“CBO’s report is filled with sobering projections that should be an urgent wakeup call for the Administration and Congress," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
“These reports drive home the urgent need to ensure that the critical Medicare and Social Security programs are sustainable into the future," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
“We’re clearly heading in the wrong direction, and it’s unfortunate that our leaders are not putting forward credible plans to improve our fiscal foundation," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
While the Tax Cuts and Jobs Act of 2017 will likely boost economic growth in the near term, the effects of the legislation are temporary.
