Budget Basics: Spending Primer
The U.S. spent $187 billion on interest payments alone in 2009.
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The U.S. spent $187 billion on interest payments alone in 2009.
As campaigns for the 2018 midterm elections get underway within a rapidly changing policy environment, America’s unsustainable fiscal condition remains a transcendent threat to our collective future.
Fiscal policymakers representing the Treasury Department, other federal agencies, think tanks and Congress will face off against college students in the Budgetball Tournament on the National Mall this Sunday from 11:00am to 2:00pm ET. Players will include David Walker, former U.S. Comptroller General, and Robert Reischauer, former Director of the Congressional Budget Office.
https://www.pgpf.org/press-release/administration-and-congressional-teams-get-fiscal
The 114th Congress has a new opportunity to address our debt and long-term fiscal challenges, strengthen our economy, and put our nation's fiscal future on a sustainable path.
After months of negotiations, with default looming, Congress passed and the President signed the Budget Control Act of 2011, which raises the debt ceiling and puts a process in place for reducing the deficit.
https://www.pgpf.org/analysis/peter-g-peterson-foundation-analysis-of-the-budget-control-act-of-2011
The combined Old Age and Survivors’ Insurance and Disability Insurance Trust Funds, commonly referred to as the “Social Security Trust Funds,” will be fully depleted by 2033.
https://www.pgpf.org/analysis/social-security-faces-major-financial-challenges
The growing cost of prescription drugs presents a significant challenge to the quality and affordability of healthcare in the United States.
CBO projects that the federal budget deficit will increase as a share of GDP for the first year since 2009.
https://www.pgpf.org/analysis/2016/08/CBO-deficits-are-back-on-the-rise
There will be a number of consequences from a gradual increase in the federal funds rate over time.
As fiscal discussions continue with deadlines imminent, The Peter G. Peterson Foundation’s September Fiscal Confidence Index registered continued negative public sentiment on the country’s fiscal challenges.
https://www.pgpf.org/press-release/2013/09/fci-press-release