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By making gradual changes to federal spending and revenue, lawmakers can not only stabilize our fiscal outlook, but provide long-run economic benefits for American families (in terms of real GNP growth) without inflicting undue damage on the U.S. economy in the near term.
On our current path, CBO projects that deficits will reach $1.0 trillion by 2022 and total $10.1 trillion over the next ten years.
Our fiscal goal must be to stabilize the debt as a share of the economy, and put it on a downward path for the longer term.
During the 2012 presidential debates, voters concerned with our nation's growing debt and deficits must listen closely for how the candidates' foreign policy plans will influence America's long-term fiscal path and national security.
Americans must task their newly elected officials with tackling the nation's debt — and hold them accountable for results.
The poverty rate in 2009 was 14.3 percent, up from 13.2 percent in 2008. This is the highest rate since 1994.
The United States, by far, spends the greatest amount on military (in nominal terms) than any other country.