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The report highlights the structural misalignment in the country’s budget and the resulting unsustainable fiscal trajectory.
The PGPF chart pack illustrates that budget-making involves many competing priorities, limited resources, and complex issues.
Setting a higher minimum wage would affect family incomes in a variety of ways, including increasing earnings for most low-wage workers and lifting some families out of poverty.
The outbreak of COVID-19 has been both a public health and an economic crisis. In particular, the closure of many businesses has resulted in an unprecedented surge in unemployment claims in the United States.
The primary deficit focuses on the difference between government revenues and spending, excluding interest payments. Learn more about the U.S. primary deficit.
https://www.pgpf.org/blog/2021/02/what-is-the-primary-deficit
Discretionary spending is projected to remain below its historical average.
https://www.pgpf.org/chart-archive/0185_discretionary_spending
Social Security and major health programs account for over three-quarters of mandatory spending.
Net interest costs on the national debt are projected to rise sharply.
The national debt has risen dramatically over the past year.
https://www.pgpf.org/chart-archive/0322_debt_projection_next_year
The growing debt is caused by a structural mismatch between spending and revenues.