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Trustees Warn: Social Security’s Total Costs to Exceed Income for First Time Since 1982
The report projects that in 2018 — for the first time since 1982 — the program’s total costs will exceed its total income.
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The report projects that in 2018 — for the first time since 1982 — the program’s total costs will exceed its total income.
The pandemic has caused a public health crisis as well as substantial economic disruption. So far, lawmakers have enacted six separate pieces of legislation.
Recent news stories have highlighted the good news that very near-term deficits are decreasing. That good news, unfortunately, will be short-lived.
https://www.pgpf.org/blog/2014/02/good-news-about-improving-deficits-will-be-short-lived
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for October 2020.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-october-2020
This project seeks to understand how mobility has evolved over the course of the 20th Century to predict how it may evolve over the next 30 years. It examines neighborhood factors that affect mobility and investigates whether the historical characteristics of childhood neighborhoods affect adult outcomes. The paper includes results for children by race, gender and levels of parental income.
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for November 2020.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-november-2020
Washington is debating tax reform. There’s talk of substantial tax cuts that would give trillions of dollars back to American taxpayers. That might sound great to some. But if Congress doesn’t find a way to pay for those tax cuts, future generations will be stuck with the bill.
The Peterson Foundation releases a statement on the deal to end the government shutdown.
If all of the proposals in the budget were adopted, government debt would still soar to unsustainable levels in the long run, even under the optimistic assumptions used in the administration’s long-run projections.
The total cost of the Tax Cuts and Job Act is estimated to be $1.7 trillion between 2018 and 2027.
https://www.pgpf.org/blog/2017/11/what-the-interest-on-deficit-funded-tax-legislation-would-cost