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.
"The single most crucial ingredient in a successful commission is complete buy-in from the leadership of both parties," writes Brian Riedl
The federal government is slated to borrow about $1.5 trillion this year, and that number is projected to nearly double over the next decade.
The primary role of the Senior Director, Tax Policy, is to track, research, analyze and assess the impacts of current, proposed and potential federal tax and revenue policies.
https://www.pgpf.org/about/careers/senior-director-tax-policy
After months of negotiations, with default looming, Congress passed and the President signed the Budget Control Act of 2011, which raises the debt ceiling and puts a process in place for reducing the deficit.
https://www.pgpf.org/analysis/peter-g-peterson-foundation-analysis-of-the-budget-control-act-of-2011
With our economy in recovery, our debt rising unsustainably, and our nation still grappling with a devastating pandemic, America faces many critical questions for its future. Where do we go from here?
At the end of May, the nonpartisan Congressional Budget Office (CBO) released new projections of the nation’s fiscal and economic outlook, their first report since July 2021.
https://www.pgpf.org/blog/2022/06/8-startling-facts-about-the-us-fiscal-outlook
The Treasury projects that debt as a percentage of GDP will grow to more than five times the size of the U.S. economy in the next 75 years.
https://www.pgpf.org/blog/2024/03/delaying-fiscal-reform-is-costly-annual-treasury-report-warns
The coronavirus (COVID-19) pandemic is an unprecedented national emergency requiring a significant federal response. This page provides resources and analysis, tracking the actions our leaders are taking to respond, and providing insights on the state of America’s fiscal and economic outlook during the recovery.
The latest report by the CBO on the outlook for the U.S. budget and economy highlights the costs of the ongoing weakness in our economy and uncertain direction of our nation’s fiscal policies.
https://www.pgpf.org/analysis/summary-of-cbo-update-on-budget-and-economic-outlook