PGPF Analysis of "Fiscal Cliff" Deal
Recent budget reforms have not significantly improved the nation’s long-term fiscal outlook, according to a report released today by the Peter G. Peterson Foundation.
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Recent budget reforms have not significantly improved the nation’s long-term fiscal outlook, according to a report released today by the Peter G. Peterson Foundation.
It’s important for lawmakers to consider the many available policy options for improving that outlook.
https://www.pgpf.org/blog/2018/12/121-ways-we-can-reduce-the-deficit-according-to-cbo
Presently, revenues raised by the corporate income tax represent the third-largest category of federal tax revenue in the United States, trailing those generated from the individual income and payroll taxes.
https://www.pgpf.org/budget-basics/the-us-corporate-tax-system-explained
The outlook for the federal budget has worsened considerably since last year, according to a new report.
The Congressional Budget Office’s new long-term projections show that the federal budget is on an unsustainable path.
https://www.pgpf.org/analysis/cbo-2013-long-term-budget-outlook-analysis
Outside of the recent recession caused by the financial crisis and its aftermath, the U.S. government has never witnessed deficits that exceeded $1 trillion.
Relative to the GAO’s last update of their long-term simulation, the nation’s fiscal condition has deteriorated.
The President's Budget for Fiscal Year 2013 projects that the budget deficit will gradually decline under the President's policies from $1,327 billion in 2012 to $704 billion in 2022.
https://www.pgpf.org/analysis/analysis-of-the-president%E2%80%99s-fiscal-year-2013-budget
The CBO released new baseline projections today, which show that the nation will face daunting fiscal challenges over the next decade resulting from the existing structural mismatch between revenues and outlays as well as the enormous amount of borrowing necessary to address the pandemic and its economic effects.
"Unfortunately, this budget paves the way for $1.5 trillion in higher deficits, plus interest," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.