Rising Interest Rates Threaten Washington’s Solvency
Inflation’s legacy of higher real interest rates poses a significant danger to the federal budget.
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Inflation’s legacy of higher real interest rates poses a significant danger to the federal budget.
“This new CBO report shows that our national debt will reach a record level over the next decade," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
“This is an example of how our leaders can pay for their priorities, whatever they may be, while helping to improve America’s fiscal and economic future at the same time," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
Student debt is one of the biggest challenges young people will face as they prepare to enter adulthood, and is often their first encounter with debt.
Most Medicaid dollars are spent on disabled and elderly beneficiaries, whose incomes and financial resources are low enough to qualify for the program.
https://www.pgpf.org/budget-basics/who-benefits-from-medicaid
Fixing the budget requires addressing the root cause of the long-term deficits: escalating Social Security and Medicare shortfalls.
The budget projections from the Congressional Budget Office (CBO) in August reaffirm the perilous path of deficits and debt expected over the next decade.
The Fed is not in the business of monetizing our government’s debt but is skating close to the edge, which has upped the risk of a misstep.
Over the next 10 years, the cumulative deficit would total $13.9 trillion if the President’s policies were carried out.
https://www.pgpf.org/blog/2021/09/deficits-will-remain-over-1-trillion-for-the-next-decade
Elderly and disabled beneficiaries make up a majority of Medicaid spending.
https://www.pgpf.org/chart-archive/0094_spending_medicaid_beneficiaries