The President's Budget Reduces Debt a Little, But Only If Growth Is Rosier than Projected
The budget would achieve some deficit reduction on paper under the administration's calculations, but it fails to address the key drivers of our debt.
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The budget would achieve some deficit reduction on paper under the administration's calculations, but it fails to address the key drivers of our debt.
The nonpartisan Congressional Budget Office projects that the federal debt could reach 175% of GDP by 2040.
https://www.pgpf.org/analysis/congressional-budget-offices-2015-long-term-budget-outlook
Chairman Paul Ryan's budget aims to shrink the size of government to about 20 percent of gross domestic product (GDP) in 2015 and to 15 percent of GDP in 2050.
Michael A. Peterson releases a statement on Chairman Paul Ryan's budget proposal.
Controlling our structural budget deficits will require major changes in budget policy.
https://www.pgpf.org/budget-basics/state-of-the-unions-finances/the-elements
Michael A. Peterson releases a statement on President Barack Obama's budget.
“The administration projects that the deficit is on track to hit $1 trillion this year, even though we are in a strong economy and low interest rate environment," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
https://www.pgpf.org/press-release/2019/07/peterson-foundation-statement-on-omb-mid-session-review
The United States healthcare system is the most expensive in the world, and our healthcare costs are projected to keep rising. Despite these high costs, our health outcomes are generally no better than those of our peers, and in some cases are worse.
The lack of a long-term solution for federal funding for transportation creates uncertainty, which is disruptive for the planning of construction projects.
https://www.pgpf.org/budget-basics/more-stop-and-go-financing-of-highway-trust-fund
Peterson Foundation’s ‘Solutions Initiative’ Produces Policy Options to Build Stronger Fiscal Future for America.
https://www.pgpf.org/press-release/2019/06/2019-solutions-initiative-2019-press-release