Inflation, Interest Rates, and the Budget: New Challenges, Old Solutions
Inflation and interest rates will have important impacts on the long-term federal budget outlook.
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Inflation and interest rates will have important impacts on the long-term federal budget outlook.
Americans want to live in a nation with widespread opportunity, a positive leadership role in the world, and a bright economic future for generations to come.
“This bill demonstrates that you can invest in areas of national interest while improving our fiscal outlook at the same time," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
The Co-Chairs of the President’s National Commission on Fiscal Responsibility and Reform, Erskine Bowles and Alan Simpson, released a draft of their recommendations for deficit reduction and debt stabilization.
https://www.pgpf.org/press-release/national-commission-on-fiscal-responsibility-and-reform
One issue that most lawmakers and voters agree on is that our tax system needs reform.
https://www.pgpf.org/infographic/how-the-us-tax-system-works
One of the largest drivers of that rising debt is federal spending on major healthcare programs, such as Medicare and Medicaid.
A divided government means there is both a requirement and a valuable opportunity for lawmakers to work together on fiscal solutions.
A mixed picture emerges from a new study commissioned by the Peter G.Peterson Foundation on America's Affordable Health Choices Act of 2009 (H.R. 3200).
https://www.pgpf.org/press-release/2009/09/health-care-bill-coverage-gain-fiscal-pain
Outside of the recent recession caused by the financial crisis and its aftermath, the U.S. government has never witnessed deficits that exceeded $1 trillion.
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for November 2022.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-november-2022