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Today, the Federal Reserve announced a decrease in the federal funds rate — the interest rate at which commercial banks lend to each other overnight .
https://www.pgpf.org/blog/2019/07/What-Does-the-Fed-Rate-Cut-Mean-for-the-Economy-and-National-Debt
Spending on children is shrinking as a percent of GDP.
https://www.pgpf.org/blog/2019/09/how-much-government-spending-goes-to-children
To account for the continuation of current policies, CBO also prepares what is known as an alternative fiscal scenario (AFS), which can be helpful for lawmakers and the general public in understanding a range of potential outcomes.
https://www.pgpf.org/blog/2019/09/what-is-an-alternative-fiscal-scenario
A continuing resolution is a temporary funding measure that Congress can use to fund the federal government for a limited amount of time.
https://www.pgpf.org/blog/2019/09/what-is-a-continuing-resolution
While Congress has not taken steps toward reining in our high and rising national debt, earlier this summer lawmakers did address a couple of pending fiscal items
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.
“Voters across party lines want fiscal leadership from their elected officials, in order to better manage the national debt and put America on a stronger economic course for the future,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2019/08/fci-press-release
As a share of the economy, the national debt is at its highest level since immediately after World War II. Annual deficits are approaching $1 trillion and they are projected to increase with no end in sight.
CBO projects that the deficit for 2019 will be $960 billion. That’s $63 billion (or 7 percent) above its estimate from just three months ago.
“We all know we are already on a troubling fiscal path, but today’s CBO report shows us that our leaders are making things considerably worse," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
