
CBO Warns: Fiscal Outlook Remains Unsustainable
Under current law, federal debt is now projected to reach 150 percent of GDP within 30 years — by far an all-time high.
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Under current law, federal debt is now projected to reach 150 percent of GDP within 30 years — by far an all-time high.
Our fiscal imbalance crowds out priorities, threatens our economic health, increases the likelihood of a fiscal crisis in the future, and will inhibit our ability to deal with such a crisis if it comes.
Last year, the U.S. deficit of $1.4 trillion or 9.9 percent of gross domestic product, was the largest since the end of World War II.
https://www.pgpf.org/analysis/2009/04/the-us-faces-looming-fiscal-crisis
The PGPF summary closely examines the key areas of the latest federal financial statement, including: the economy, the budget, the debt, challenges ahead, and the economic recovery.
https://www.pgpf.org/analysis/summary-of-the-2009-financial-report-of-the-us
While countries continue to recover from the crisis, the international fiscal outlook has not substantially improved.
https://www.pgpf.org/analysis/fiscal-monitor-series-navigating-the-fiscal-challenges
The CBO provides two projections of the nation's fiscal future over the next 75 years: one based upon laws currently on the books; and one that reflects selected changes to those laws that lawmakers are widely expected to make.
https://www.pgpf.org/analysis/cbo-releases-the-2010-long-term-budget-outlook
The updated 2010 projection is a slight improvement over CBO ‘s March estimate primarily as a result of higher than expected corporate revenues and receipts from the Federal Reserve.
https://www.pgpf.org/analysis/cbo%E2%80%99s-august-2010-budget-outlook
According to the report, reaching primary balance would require a reduction of $255 billion in the projected deficit in 2015.
https://www.pgpf.org/analysis/cap-shows-what-it-might-take-to-balance-the-budget
While the recession has technically ended, our economy is still suffering and far from completely recovered.
Under the GAO’s most realistic fiscal scenario, debt held by the public will exceed 109 percent of GDP by 2020.