CBO Report Highlights America’s Unsustainable — and Deteriorating — Fiscal Outlook
The latest report from the nonpartisan Congressional Budget Office (CBO) reiterates that the federal budget is on an unsustainable trajectory.
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The latest report from the nonpartisan Congressional Budget Office (CBO) reiterates that the federal budget is on an unsustainable trajectory.
The updated 2010 projection is a slight improvement over CBO ‘s March estimate primarily as a result of higher than expected corporate revenues and receipts from the Federal Reserve.
https://www.pgpf.org/analysis/cbo%E2%80%99s-august-2010-budget-outlook
The latest budget outlook released by CBO is the first to fully capture the budgetary impact of the pandemic.
Under current law, federal debt is now projected to reach 150 percent of GDP within 30 years — by far an all-time high.
This outlook is particularly worrisome because the baby boom generation is beginning to retire and will place growing demands on Social Security, Medicare, and Medicaid in the 2020s.
If taxes are not increased or spending is not cut, CBO projects that interest costs will climb and federal debt will grow to levels that will damage our economy.
National debt could climb from 74% of GDP in 2014 to 166% of GDP in 2039.
https://www.pgpf.org/analysis/gao-sends-clear-warning-long-term-debt-is-on-an-unsustainable-path
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
The federal budget is on an unsustainable and damaging fiscal trajectory, according to a new report from the nonpartisan Congressional Budget Office.
https://www.pgpf.org/analysis/2019/02/cbo-report-highlights-unsustainable-fiscal-outlook
Relative to the GAO’s last update of their long-term simulation, the nation’s fiscal condition has deteriorated.