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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
Similar to previous years, this budget largely relies on very optimistic projections of economic growth and unlikely budget cuts to reduce the deficit.
Powell noted that the current economic expansion is the longest on record and emphasized the need to consider the long-term implications of fiscal policy.
PAYGO is a budget enforcement mechanism intended to prevent passage of legislation that increases deficits.
“Another $400 billion in debt is the worst possible holiday gift for our children,” said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
https://www.pgpf.org/press-release/2019/12/peterson-foundation-statement-on-budget-deal
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for April 2020.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-april-2020
Policymakers should work together to stabilize and strengthen this important program for generations to come.
https://www.pgpf.org/analysis/trustees-warn-social-security-faces-major-imbalances
There are separate limits on the amount of funding that can be provided for defense and nondefense purposes through the appropriation process.
https://www.pgpf.org/blog/2018/03/budget-process-reform-what-are-budget-caps
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for March 2020.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-march-2020