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Following the pattern of previous years, this budget largely relies on very optimistic projections of economic growth and unlikely budget cuts to reduce the deficit.
The National Flood Insurance Program (NFIP) is run by the federal government to reduce the impact of flooding on private and public structures.
https://www.pgpf.org/budget-basics/the-national-flood-insurance-program
The latest report from the non-partisan Congressional Budget Office (CBO) reiterates that the federal budget is on an unsustainable trajectory.
At $23 trillion and rising, the national debt threatens America’s economic future. Here are the top ten reasons why the national debt matters.
https://www.pgpf.org/top-10-reasons-why-the-national-debt-matters
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
The budget projections released by the Congressional Budget Office (CBO) in August reaffirm the perilous path of deficits and debt expected over the next decade.
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
Most working Americans are subject to payroll taxes, which are usually deducted automatically from an employee’s paycheck. Employers are also often subject to these types of taxes.
https://www.pgpf.org/budget-basics/budget-explainer-payroll-taxes
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
There is one cap for national defense and another cap for non-defense programs.
