CBO’s Budget Outlook Shows Pandemic’s Acceleration of U.S. Fiscal Challenges
The latest budget outlook released by CBO is the first to fully capture the budgetary impact of the pandemic.
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The latest budget outlook released by CBO is the first to fully capture the budgetary impact of the pandemic.
Policymakers should build on this foundation of bipartisanship to begin the significant further reforms that are necessary to put our nation on a sustainable fiscal path.
The nonpartisan Congressional Budget Office has released a mid-year update to its projections of the nation’s federal finances and economic health.
The budget projections from the Congressional Budget Office (CBO) in August reaffirm the perilous path of deficits and debt expected over the next decade.
For the third year in a row, Congress did not adopt a budget resolution.
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.
CBO projects that federal debt will remain at historically high levels over the next decade under current laws and warns that such high levels of debt could harm the economy.
https://www.pgpf.org/analysis/cbo-warns-deficit-drop-is-temporary
Under current spending and tax policies, federal debt would be on a path that climbs to about 200 percent of gross domestic product within 25 years, according to CBO.
Under the current policy scenario, the federal government is projected to run permanent primary spending deficits.
https://www.pgpf.org/analysis/government-accountability-office-fall-2012-budget-outlook
Peter G. Peterson pens an op-ed in POLITICO about the coming fiscal issues now that Congress and the President have removed the threat of a government shutdown.
https://www.pgpf.org/press-release/op-ed-a-fiscal-deal-or-fiscal-crisis