Rising Federal Deficits
The federal deficit is projected to decline in 2021, but is expected to remain high over the next decade
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The federal deficit is projected to decline in 2021, but is expected to remain high over the next decade
SNAP spending sharply increased in response to the COVID-19 pandemic, but is projected to decline below historical levels over the next decade.
The majority of SNAP beneficiaries are people from vulnerable populations.
https://www.pgpf.org/chart-archive/0282_snap_characteristics
Discretionary spending is projected to remain below its historical average.
https://www.pgpf.org/chart-archive/0185_discretionary_spending
Interest costs are projected to grow substantially.
Social Security and major health programs account for over three-quarters of mandatory spending.
Net interest costs on the national debt are projected to rise sharply.
The U.S. spent more on interest on the national debt than it has on other national priorities over the past decade.
https://www.pgpf.org/chart-archive/0308_interest_spending_priorities
Defense spending is projected to stay below its historical share of GDP.
Over the past 50 years, the share of the federal budget devoted to investments in the future has fallen sharply.
https://www.pgpf.org/chart-archive/0302_declining_investment_future