CBO: President’s Budget Fails to Put Nation on Fiscally Sustainable Path
CBO’s estimate of the cumulative deficit over the next 10 years totals $2.3 trillion more than the Administration had estimated.
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CBO’s estimate of the cumulative deficit over the next 10 years totals $2.3 trillion more than the Administration had estimated.
"If today’s policymakers are serious about addressing a legacy of growing debt and deficits, they should come together to address long-term health care cost growth," writes Lanhee J. Chen, Ph.D.
Although the debt affects each of us, it may be difficult to put such a large number into perspective and fully understand its implications.
https://www.pgpf.org/infographic/the-national-debt-is-now-more-than-35-trillion-what-does-that-mean
Right now, Social Security’s finances are in trouble, and without reform the program will be unable to pay out full benefits in about a decade.
https://www.pgpf.org/blog/2024/08/solutions-for-social-security-sustainability
Voters are calling on their leaders to take concrete actions to put us on a better fiscal path.
As the largest program in the federal budget, Social Security is a critical part of our nation’s fiscal picture and vital to millions of elderly recipients.
With our economy in recovery, our debt rising unsustainably, and our nation still grappling with a devastating pandemic, America faces many critical questions for its future. Where do we go from here?
"CBO makes clear that America’s fiscal outlook over the long term remains unsustainable and threatens our economy."
Here’s an overview of inflation, why it matters, and how it’s managed.
https://www.pgpf.org/budget-basics/what-is-inflation-and-why-does-it-matter
There are a number of key fiscal issues not only facing the current Congress in coming weeks, but also awaiting the new Congress.