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Many Americans, young and old, may be confused by the complex set of issues that comprise how the government raises revenues and allocates them.
https://www.pgpf.org/blog/2019/08/what-is-fiscal-policy-interactive-teaching-tools
“We all know we are already on a troubling fiscal path, but today’s CBO report shows us that our leaders are making things considerably worse," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
CBO projects that the deficit for 2019 will be $960 billion. That’s $63 billion (or 7 percent) above its estimate from just three months ago.
The United States spent $631 billion on national defense during fiscal year (FY) 2018 according to the Office of Management and Budget, which amounts to 15 percent of the federal budget.
https://www.pgpf.org/budget-basics/budget-explainer-national-defense
As a share of the economy, the national debt is at its highest level since immediately after World War II. Annual deficits are approaching $1 trillion and they are projected to increase with no end in sight.
“Voters across party lines want fiscal leadership from their elected officials, in order to better manage the national debt and put America on a stronger economic course for the future,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2019/08/fci-press-release
While Congress has not taken steps toward reining in our high and rising national debt, earlier this summer lawmakers did address a couple of pending fiscal items
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.
https://www.pgpf.org/budget-basics/how-do-we-measure-poverty-and-is-there-a-better-way-to-do-it
To account for the continuation of current policies, CBO also prepares what is known as an alternative fiscal scenario (AFS), which can be helpful for lawmakers and the general public in understanding a range of potential outcomes.
https://www.pgpf.org/blog/2019/09/what-is-an-alternative-fiscal-scenario
Spending on children is shrinking as a percent of GDP.
https://www.pgpf.org/blog/2019/09/how-much-government-spending-goes-to-children
