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“Today’s budget proposal relies on optimistic projections for economic growth and unlikely budget cuts to illustrate deficit reduction,” said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
How do the House Budget and the President’s Budget differ?
Social Security is an important program that is part of the fabric of America. We must ensure that Social Security is available for future generations.
https://www.pgpf.org/budget-basics/making-social-security-sustainable
The federal budget deficit rose to $666 billion for fiscal year 2017 — an increase of around $80 billion from the previous year.
https://www.pgpf.org/blog/2017/10/federal-budget-deficits-rising-even-before-tax-cuts
This project follows working-age adults over time to understand how economic, demographic and policy changes are impacting their retirement preparation. It also projects their financial outcomes at older ages to understand the implications of these changes on their future retirement security.
Leading experts, scholars will discuss 31 new research papers on trends that will shape America’s future economy and society.
Medicare is a large share of the budget, and it is projected to grow.
https://www.pgpf.org/analysis/urgent-action-needed-to-shore-up-medicare-program
This paper seeks to understand how the option of co-residing with parents affects young people’s decisions to migrate. It compares labor and housing market conditions in the areas young people leave to those conditions in areas they migrate to when deciding to co-reside with parents. It also considers role of other potential benefits of co-residence.
This project quantifies the competing public finance consequences of shifting trends in population health. It discusses impacts for medical expenditures, labor supply, earnings, wealth, tax revenues and government expenditures.
Each year, some of the revenue the federal government collects comes from various taxes. In 2012, taxpayers paid almost $2.5 trillion, which the government used to partially fund $3.5 trillion worth of spending on Social Security, health care, and other programs in areas such as defense and education. The remainder of spending was funded through deficits.