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CBO projects that if current laws remain in place, federal debt will rise to 144 percent of gross domestic product (GDP) within 30 years – far exceeding its all-time high, and nearly doubling today’s level.
https://www.pgpf.org/analysis/2019/06/cbo-warns-historic-debt-levels-pose-substantial-risks
The growing debt is caused by a structural mismatch between spending and revenues.
As lawmakers consider a range of costly new tax and spending proposals, voters across party lines are urging their leaders to prioritize the nation’s high and rising debt.
https://www.pgpf.org/press-release/2019/06/fci-press-release
Waiting to act raises the cost of stabilizing the debt.
Modeled after the Consumer Confidence Index, the Fiscal Confidence Index is a national survey that measures public opinion about the national debt.
The non-partisan Congressional Budget Office (CBO) released its 2019 Long-Term Budget Outlook, highlighting the significant fiscal challenges facing our nation.
https://www.pgpf.org/blog/2019/06/five-key-takeaways-from-the-cbo-long-term-outlook
“As America’s leaders consider costly new spending proposals and tax cuts, today’s CBO report is a timely reality check," Michael A. Peterson, CEO of the Peter G. Peterson Foundation
https://www.pgpf.org/press-release/2019/06/Peterson-Foundation-long-term-budget-outlook
Health expenditures of state and local governments are projected to crowd out non-health spending.
The percentage of children without health insurance has declined since 1997.
The cost of healthcare in the U.S. was nearly $1.5 trillion in 2018.
https://www.pgpf.org/chart-archive/0169_federal_health_spending_composition
