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The 2016 Long-Term Budget Outlook

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The 2016 Long-Term Budget Outlook

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Description

If current laws governing taxes and spending did not change, the United States would face steadily increasing federal budget deficits and debt over the next 30 years, according to projections by the Congressional Budget Office. Federal debt held by the public, which was equal to 39 percent of gross domestic product (GDP) at the end of fiscal year 2008, has already risen to 75 percent of GDP in the wake of a financial crisis and a recession. In CBO's projections, that debt rises to 86 percent of GDP in 2026 and to 141 percent in 2046-exceeding the historical peak of 106 percent that occurred just after World War II. The prospect of such large debt poses substantial risks for the nation and presents policymakers with significant challenges.
Release date NZ
October 30th, 2016
Audience
  • General (US: Trade)
Illustrations
black & white illustrations
Publisher
Createspace Independent Publishing Platform
Country of Publication
United States
Imprint
Createspace Independent Publishing Platform
Dimensions
216x279x6
ISBN-13
9781539823599
Product ID
26265719

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