Download or read book Long term Deficit Outlook written by United States. Congress. Senate. Committee on Finance. Subcommittee on Deficits, Debt Management, and International Debt and published by . This book was released on 1991 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Long term Deficit Outlook written by United States. Congress. Senate. Committee on Finance. Subcommittee on Deficits, Debt Management, and International Debt and published by . This book was released on 1991 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Budget and Economic Outlook written by and published by . This book was released on 2008 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Aging and the Macroeconomy written by National Research Council and published by National Academies Press. This book was released on 2013-01-10 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.
Download or read book The Deficit and the Economy written by United States. General Accounting Office and published by . This book was released on 1995 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Budget issues analysis of longterm fiscal outlook report to congressional requesters written by and published by DIANE Publishing. This book was released on with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Budget Issues written by United States. General Accounting Office and published by . This book was released on 1997 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Economic Implications of the Long term Federal Budget Outlook written by Marc Labonte and published by . This book was released on 2008 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: The retirement of the baby boomers, rising life expectancy, and the rising cost of medical care are projected to place current federal policy on an unsustainable fiscal basis over the next several decades. Social Security outlays are projected to rise from 4.3% of gross domestic product (GDP) today to 6.1% of GDP in 2030, and Medicare and Medicaid outlays are projected to rise from 4.1% today to as much as 8.4% of GDP in 2030 and 12.5% of GDP in 2050. These increases in spending are not expected to subside after the baby boomers have passed away. Without any corresponding rise in revenues, this spending path would lead to unsustainably large budget deficits above 10% of GDP, which would push up interest rates and the trade deficit, crowd out private investment spending, and ultimately cause fiscal crisis. To avoid this outcome, taxes would need to be raised or expenditures would need to be reduced. Altering taxes and benefits ahead of time would reduce the size of adjustments required in the future, if the proceeds were used to increase national saving. (Making changes ahead of time would also allow individuals time to adjust their private saving behavior.) National saving can be increased by using the proceeds to pay down the national debt, purchase financial securities, or finance individual accounts. But if the budget savings is offset by new spending or tax cuts, the government's ability to finance future benefits will not have improved. Individual accounts financed by increasing the budget deficit, however, would not increase national saving or reduce the government's fiscal imbalance and could exacerbate the government's fiscal imbalance over the 75-year projection. Relatively small tax increases or benefit reductions could return Social Security to long-run solvency. Restraining the growth in Medicare and Medicaid spending is more uncertain and difficult, however. The projected increase in spending is driven more by medical spending outpacing general spending increases than by demographic change. But it is uncertain how to restrain cost growth because much of it is the result of technological innovation that makes new and expensive treatments available. If future medical spending grows more slowly than projected, then the long-term budget outlook improves dramatically. From a government-wide perspective, Social Security or Medicare trust fund assets cannot help finance future benefits because they are redeemed with general revenues. The reason revenues are not projected to rise along with outlays is that these programs are financed on a pay-as-you-go basis: current workers finance the benefits of current retirees. In the future, there will be fewer workers per retiree. Once a pay-as-you-go system is up and running and faced with an adverse demographic shift, there is no reform that can avoid making some present or future generation receive less than past generations. Under current policy, future generations will be made worse off by higher taxes or lower benefits. Under a reform that increases national saving, some of that burden would be shifted to current generations. Overall, current budget deficits remove the system's limited existing prefunding, exacerbating the future fiscal shortfall. Reducing the current budget deficit is the most straightforward and concrete step that can be taken today to reduce the future shortfall.
Download or read book The Budget Deficit written by United States. General Accounting Office and published by . This book was released on 1990 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Long Term Fiscal Outlook Action Is Needed to Avoid the Possibility of a Serious Economic Disruption in the Future written by David M. Walker and published by DIANE Publishing. This book was released on 2008-05 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: For many years, we have been warned that our nation is on an imprudent & unsustainable fiscal path. During the past three years, the Comptroller General has traveled to 25 states as part of the Fiscal Wake-Up Tour. Members of this diverse group of policy experts agree that finding solutions to the nation¿s long-term fiscal challenge will require bipartisan cooperation, a willingness to discuss all options, & the courage to make tough choices. In this testimony, the Comptroller General discusses the long-term fiscal outlook, our nation¿s huge health care challenge, & the shrinking window of opportunity for action. Illustrations.
Download or read book Long term Tendencies in Budget Deficits and Debt written by Paul R. Masson and published by . This book was released on 1995 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Long Term Fiscal Outlook written by Gene L. Dodaro and published by DIANE Publishing. This book was released on 2008-12 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: This statement addresses 4 key points: (1) the fed. gov¿t. long-term fiscal outlook is a matter of utmost concern; (2) this challenge is driven primarily by health care cost growth; (3) reform of health care is essential but other areas also need attention which requires a multi-pronged solution; and (4) the fed. gov¿t. faces increasing pressures yet a shrinking window of opportunity for phasing in needed adjustments. The simulations of the fed. gov¿t. long-term fiscal outlook continue to indicate that the long-term outlook is unsustainable. This update combined with an analysis of the fiscal outlook of state and local gov¿ts. demonstrates that the fiscal challenges facing all levels of gov¿t. are linked and should be considered in an integrated manner. Ill.
Download or read book The Long term Budget Outlook written by Jessica C. Anderson and published by Nova Science Publishers. This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recently, the federal government has been recording the largest budget deficits, as a share of the economy, since the end of World War II. As a result of those deficits, the amount of federal debt held by the public has surged. At the end of 2008, that debt equalled 40 percent of the nation's annual economic output, as measured by GDP, a little above the 40 year average of 36 percent. Since then, large budget deficits have caused debt held by the public to shoot upward. As the economy recovers and the policies adopted to counteract the recession and the financial turmoil phase out, budget deficits will probably decline markedly in the next few years. But over the long term, the budget outlook is daunting. This book examines the long-term budget outlook with a focus on federal budget spending and revenue scenarios.
Download or read book Budget options written by and published by . This book was released on 1977 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Budget Issues written by United States. General Accounting Office and published by . This book was released on 1997 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report updates earlier GAO simulations of the long-term economic impact of federal budget policy. GAO first used a macroeconomic model in 1992 to simulate the effects of alternative fiscal policy paths in promoting or inhibiting long-term economic growth. The results supported the view that deficit reduction is the key to the nation's long-term economic health. In 1995, GAO's updated simulations indicated that a path of "no action," under which current policies remained unchanged, could not be sustained over the long term. GAO identified three forces driving the long-term growth of the budget deficit: health spending, Social Security, and interest costs. This report updates GAO's work to address the long-term budget outlook following passage of the Balanced Budget Act of 1997. GAO uses its long-term economic growth model to simulate the path resulting from the act through the year 2050 assuming no further policy changes ("no action"). GAO also presents several alternative fiscal policy paths to illustrate how overall fiscal policy changes can affect future budgetary and economic outcomes.
Download or read book Budget Issues written by United States. General Accounting Office and published by . This book was released on 1997 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report updates earlier GAO simulations of the long-term economic impact of federal budget policy. GAO first used a macroeconomic model in 1992 to simulate the effects of alternative fiscal policy paths in promoting or inhibiting long-term economic growth. The results supported the view that deficit reduction is the key to the nation's long-term economic health. In 1995, GAO's updated simulations indicated that a path of "no action," under which current policies remained unchanged, could not be sustained over the long term. GAO identified three forces driving the long-term growth of the budget deficit: health spending, Social Security, and interest costs. This report updates GAO's work to address the long-term budget outlook following passage of the Balanced Budget Act of 1997. GAO uses its long-term economic growth model to simulate the path resulting from the act through the year 2050 assuming no further policy changes ("no action"). GAO also presents several alternative fiscal policy paths to illustrate how overall fiscal policy changes can affect future budgetary and economic outcomes.
Download or read book Long term Deficit Outlook written by United States. Congress. Senate. Committee on Finance. Subcommittee on Deficits, Debt Management, and International Debt and published by . This book was released on 1991 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt:
