IMF Warns of Rising U.S. Debt
The IMF raises concerns that progress on important fiscal issues is being hampered by political dysfunction in Washington.
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The IMF raises concerns that progress on important fiscal issues is being hampered by political dysfunction in Washington.
“This CBO score is the latest evidence that this bill needs to be improved as it moves through the legislative process," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
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.
Financing the debt will become more burdensome now that interest rates have returned to their pre-pandemic levels.
The Peter G. Peterson Foundation on the Congressional Budget Office outlook.