Budget Basics: What Is Sequestration?
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
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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
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.
Healthcare spending in the United States totaled 18.3 percent of gross domestic product (GDP) in 2021.
https://www.pgpf.org/blog/2023/04/healthcare-spending-in-the-united-states-remains-high
“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
The rise in healthcare spending was largely driven by the federal response to the COVID-19 pandemic.
https://www.pgpf.org/blog/2022/01/healthcare-spending-reaches-a-record-high
Over the past 50 years, the share of Medicare spending on hospital expenses has declined the most while the share spent on prescription drugs has increased the most
https://www.pgpf.org/chart-archive/0089_composition_medicare_payments
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 U.S. has historically devoted a larger share of its economy to defense than other members of the G-7.
Medicare spending is projected to rise rapidly.
https://www.pgpf.org/chart-archive/0276_medicare_spending_long-term
In 2021, health spending in the United States totaled $4.3 trillion and averaged nearly $13,000 per person.
https://www.pgpf.org/blog/2023/07/how-can-we-reduce-unnecessary-healthcare-spending-in-the-us