Recent Economic Projections Show Higher Short-term Interest Rates
CBO now expects that 3-month interest rates will peak at around 5.3 percent this year and only fall to 3.2 percent by the end of 2025.
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CBO now expects that 3-month interest rates will peak at around 5.3 percent this year and only fall to 3.2 percent by the end of 2025.
"When it comes time to start looking under the sofa cushions for savings, Congress should treat direct spending and tax expenditures equally," writes Betsey Stevenson.
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
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
Medicare and Medicaid account for the majority of federal healthcare spending
https://www.pgpf.org/chart-archive/0169_federal_health_spending_composition
According to the Joint Committee on Taxation, the provisions in this agreement will add $857.8 billion to the deficit by 2020.
https://www.pgpf.org/analysis/2010/12/compromise-tax-framework-agreement
Medicaid’s role in state budgets is unique, since the program acts as both an expenditure and the largest source of federal support in state budgets.
https://www.pgpf.org/budget-basics/budget-explainer-how-do-states-pay-for-medicaid
Child poverty has remained relatively high in the United States for much of the past decade.
https://www.pgpf.org/blog/2023/10/what-are-the-economic-costs-of-child-poverty
Between 2006 and 2051, spending on federal health programs is projected to more than double.
https://www.pgpf.org/chart-archive/0114_federal_health_spending
Significant damage was done to America’s fiscal outlook over the past year.