Statement on President Obama’s Budget
Michael A. Peterson releases a statement on President Barack Obama's budget.
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Michael A. Peterson releases a statement on President Barack Obama's budget.
The President's budget has a worthy goal of deficit reduction. However the economic assumptions underlying the president’s budget are optimistic.
https://www.pgpf.org/analysis/2017/05/analysis-of-the-presidents-fy-2018-budget
CBO finds that the budget would not reach balance in 2027 as the administration projects.
https://www.pgpf.org/analysis/2017/07/cbo-debt-remains-high-under-presidents-budget
Medicare covers over 20 percent of most healthcare services.
https://www.pgpf.org/chart-archive/0092_medicare_share_costs
Policymakers should build on this foundation of bipartisanship to begin the significant further reforms that are necessary to put our nation on a sustainable fiscal path.
How do the House Budget and the President’s Budget differ?
Corporate tax revenues are substantially lower than they were before the tax rate was reduced by the TCJA.
https://www.pgpf.org/chart-archive/0304_corporate_tax_reduced_tcja
Prior to 2020, the median real income for families in the United States had been increasing for 5 consecutive years.
https://www.pgpf.org/chart-archive/0213_stagnant_median_income
Over 11 percent of the population lives in poverty, and nearly half of those in poverty live in deep poverty.
Poverty levels among children remain much higher than poverty levels for those 65 and older.