10 Charts that Show How the United States Failed to Improve Its Fiscal Outlook in 2023
The end of 2023 marks another year that the country has failed to improve its daunting fiscal outlook.
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The end of 2023 marks another year that the country has failed to improve its daunting fiscal outlook.
“As Washington navigates short-term budget battles, our long-term fiscal outlook keeps getting more and more dangerous," said Michael A. Peterson.
Interest costs on the national debt are expected to rapidly outstrip spending on children in coming years.
https://www.pgpf.org/blog/2023/12/how-much-government-spending-goes-to-children
Budget Explainer: What's at Stake with Discretionary Spending Cuts
https://www.pgpf.org/budget-basics/budget-explainer-whats-at-stake-with-discretionary-spending-cuts
“The national debt is already $34 trillion, but as it grows over the next three decades, we’ll spend more than double that on interest alone,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2024/03/fci-press-release
There's ongoing discussion in Washington about making changes to Medicaid. Learn more about the program.
https://www.pgpf.org/blog/2017/07/five-things-you-probably-dont-know-about-medicaid
“We need our leaders to rise to the urgency of the moment, but legislative gridlock continues to prevent progress on even the basics of budgeting," said Michael A. Peterson.
https://www.pgpf.org/press-release/2024/03/peterson-foundation-statement-on-presidents-budget
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the latest data for Fiscal Year 2024, charted out monthly and on a year-over-year basis.
Sequestration is a budget procedure used by lawmakers to cancel or limit funding in order to meet budget goals.
https://www.pgpf.org/budget-basics/budget-basics-what-is-sequestration
The Foundation provides a wide range of analysis, reports, and charts on fiscal and economic trends to help policymakers, journalists, and the public learn more about our nation’s fiscal and economic health.
https://www.pgpf.org/what-we-are-doing/research-and-analysis