76 Options to Reduce the Federal Deficit
There’s no question that America’s fiscal outlook is daunting. The good news is that there are plenty of ways to reverse course.
Read More8 Charts That Show How We Failed to Fix Our Fiscal Outlook This Year
These charts tell the fiscal story of 2022 — looking back at how our fiscal situation deteriorated over the past year and what challenges lie ahead.
Read MoreThe Longer We Wait to Stabilize the National Debt, the More Difficult It Will Be
The national debt is on an unsustainable path and the longer policymakers wait to take action, the more of a burden that debt will have on future generations.
Read MoreHow Did the Pandemic Affect the Way We Look at Deficits?
The pandemic caused a severe economic slowdown that reduced tax revenues and generated a set of large legislative responses.
Read More$1 Trillion Deficits Are Projected for the Foreseeable Future
The federal deficit is projected to be over $1 trillion each year for the next 10 years, according to the Office of Management and Budget.
Read MoreCBO Director Discusses Inflation, Interest Costs, New Reconciliation Proposal, and America’s Unsustainable Debt
CBO Director Phillip Swagel discussed the latest economic indicators and how CBO analysis helps policymakers, with Peterson Foundation CEO Michael Peterson.
Read MoreNational Debt to Double in Size and Other Key Takeaways from the CBO Long-Term Outlook
The pandemic exacerbated the nation’s fiscal trajectory, but the more consequential underlying problem is the structural mismatch between spending and revenues.
Read MoreNational Debt Could Be Over Twice the Size of the Economy in Just 30 Years
GAO projects that public debt could rise from around 100 percent of gross GDP at the end of fiscal year 2021 to 217 percent in 2050.
Read More8 Startling Facts About the U.S. Fiscal Outlook
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.
Read MoreInterest Costs on the National Debt Set to Reach Historic Highs in the Next Decade
Driven by rising interest rates and the accumulation of federal debt, interest will nearly triple in the next 10 years and reach a historic high relative to the size of the economy by 2032.
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