Budget Outlook

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Policy Basics

Long-term deficits and debt will affect the nation’s ability to fund important investments in the future.

We analyze long-term deficit and debt trends to illustrate the challenges we face and highlight potential solutions. We also encourage policymakers to enact measures to strengthen today’s job market as well as measures to reduce longer-term deficits.

Federal Spending and Revenue Needs Will Grow

Spending and revenues will have to grow significantly as a share of the economy in coming years just to enable the federal government to continue carrying out existing functions that the public...