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Heading into 2020, the vast majority of Americans are urging leaders in Washington to address the unsustainable national debt and budget deficit.
https://www.pgpf.org/blog/2019/12/do-voters-care-about-the-national-debt-the-polls-say-they-do
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.
Medicare and Medicaid account for the majority of federal healthcare spending
https://www.pgpf.org/chart-archive/0169_federal_health_spending_composition
Powell noted that the current economic expansion is the longest on record and emphasized the need to consider the long-term implications of fiscal policy.
Today, President Trump released his fourth budget, which outlines the administration’s policy proposals, budget projections, and economic forecast for the next decade.
Although a range of views exists about optimal near-term fiscal policy, economists agree that America’s mounting debt presents significant challenges for our budget and the economy, particularly over the long term.
Social Security and major health programs account for over three-quarters of mandatory spending.
Defense spending is projected to stay below its historical share of GDP.
Mandatory spending accounts for about 60 percent of the budget.
