Deficits Grow in Recessions
Recessions and countercyclical policies generally increase deficits, but deficits tend to diminish during and after recoveries.
https://www.pgpf.org/chart-archive/0307_deficits_and_recessions
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Recessions and countercyclical policies generally increase deficits, but deficits tend to diminish during and after recoveries.
https://www.pgpf.org/chart-archive/0307_deficits_and_recessions
Medicare and Medicaid account for the majority of federal healthcare spending
https://www.pgpf.org/chart-archive/0169_federal_health_spending_composition
Each year, some of the revenue the federal government collects comes from various taxes. In 2012, taxpayers paid almost $2.5 trillion, which the government used to partially fund $3.5 trillion worth of spending on Social Security, health care, and other programs in areas such as defense and education. The remainder of spending was funded through deficits.
The United States is on pace to lead the world in debt increase as a percentage of GDP.
https://www.pgpf.org/chart-archive/0310_us_lead_world_debt_increase
Foreign investors own one-third of all U.S. public debt.
https://www.pgpf.org/chart-archive/0311_us_domestic_foreign_debt
Addressing our nation's fiscal challenges is essential to building an economic future.This and other ideas are laid out in Pete Peterson’s latest book.
https://www.pgpf.org/blog/charting-a-new-course-for-americas-economic-future
Our fiscal situation was already unsustainable, but COVID-19 certainly did not help. Learn how the pandemic compounded our financial challenges in 13 charts.
https://www.pgpf.org/blog/2020/12/13-charts-that-tell-the-fiscal-story-of-2020
Debt rises and falls with wars and changes in the economy. Debt is currently at its highest level since 1946.