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As Election Day approaches, the Peter G. Peterson Foundation is delivering a non-partisan Election Fiscal Toolkit to all U.S. House and Senate candidates, encouraging a critically important conversation about how to solve America’s fiscal challenges.
Across party lines, 8 in 10 voters say Washington should spend more time addressing the national debt.
https://www.pgpf.org/infographic/voters-agree-the-national-debt-is-a-bipartisan-priority
“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.
Growth in Social Security, Medicare, and Medicaid have accounted for most of the increases in government spending since the 1960s.
https://www.pgpf.org/chart-archive/0012_spending-composition
The outlook for U.S. debt has deteriorated substantially.
https://www.pgpf.org/chart-archive/0207_unsustainable-trajectory
Spending for major health programs and Social Security will continue to climb rapidly over the long term.
https://www.pgpf.org/chart-archive/0174_SS_major_health_climb
Federal entitlement programs will more than double between 1983 and 2048.
https://www.pgpf.org/chart-archive/0027_entitlement-programs-proj
By 2047, interest costs are projected to be more than twice what the federal government has historically spent on R&D, infrastructure, and education combined.
Interest costs on the national debt are projected to grow substantially.
