Record-High Federal Debt Projections
The national debt has risen dramatically over the past year.
https://www.pgpf.org/chart-archive/0322_debt_projection_next_year
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The national debt has risen dramatically over the past year.
https://www.pgpf.org/chart-archive/0322_debt_projection_next_year
The growing debt is caused by a structural mismatch between spending and revenues.
The federal deficit is projected to decline in 2021, but is expected to remain high over the next decade
SNAP spending sharply increased in response to the COVID-19 pandemic, but is projected to decline below historical levels over the next decade.
The majority of SNAP beneficiaries are people from vulnerable populations.
https://www.pgpf.org/chart-archive/0282_snap_characteristics
Discretionary spending is projected to remain below its historical average.
https://www.pgpf.org/chart-archive/0185_discretionary_spending
Interest costs are projected to grow substantially.
Social Security and major health programs account for over three-quarters of mandatory spending.
Net interest costs on the national debt are projected to rise sharply.
Defense spending is projected to stay below its historical share of GDP.