The document is from the Congressional Budget Office and discusses the rising federal deficits and debt in the United States. It notes that under current policies, deficits are projected to increase significantly as a percentage of GDP due to factors like an aging population and rising healthcare costs. To put the budget on a sustainable path, lawmakers will need to adopt policies that increase taxes, reduce government benefits and services, or combine both. However, achieving the large amount of deficit reduction needed to stabilize rising debt levels will be very challenging.
Presentation by James Baumgardner, Ph.D., Deputy Assistant Director Health, Retirement, and Long-Term Analysis Division, CBO, to the 30th International Congress of Actuaries on April 4, 2014
This presentation provides information published in Raising the Excise Tax on Cigarettes: Effects on Health and the Federal Budget (June 2012), www.cbo.gov/publication/43319
Presentation by James Baumgardner, Ph.D., Deputy Assistant Director Health, Retirement, and Long-Term Analysis Division, CBO, to the 30th International Congress of Actuaries on April 4, 2014
This presentation provides information published in Raising the Excise Tax on Cigarettes: Effects on Health and the Federal Budget (June 2012), www.cbo.gov/publication/43319
Presentation at the Fifth Biennial Conference of the American Society of Health Economists, by Allison Percy, Health, Retirement, and Long-Term Analysis Division
In 2012, the federal government spent $531 billion on investment—for physical capital; research and development; and education and training—which represented 15 percent of federal spending and 3 percent of GDP.
This infographic provides an overview of CBO's report, The 2016 Long-Term Budget Outlook. Gain quick insight into why CBO projects a substantial imbalance in the federal budget beyond the next 10 years.
Presentation by Christina Hawley Anthony, Robert Arnold, and Joshua Shakin, CBO Unit Chiefs, at a joint seminar by CBO and the Congressional Research Service.
Presentation at the Fifth Biennial Conference of the American Society of Health Economists, by Allison Percy, Health, Retirement, and Long-Term Analysis Division
In 2012, the federal government spent $531 billion on investment—for physical capital; research and development; and education and training—which represented 15 percent of federal spending and 3 percent of GDP.
This infographic provides an overview of CBO's report, The 2016 Long-Term Budget Outlook. Gain quick insight into why CBO projects a substantial imbalance in the federal budget beyond the next 10 years.
Presentation by Christina Hawley Anthony, Robert Arnold, and Joshua Shakin, CBO Unit Chiefs, at a joint seminar by CBO and the Congressional Research Service.
In CBO’s projections, economic output is expected to grow by 2.3 percent in 2019, supporting strong labor market conditions that feature low unemployment and rising wages. After 2019, economic growth averages 1.8 percent per year, which is less than the historical average.
CBO estimates that the federal budget deficit for 2019 will be $960 billion. Under current law, budget deficits are projected to average $1.2 trillion a year between 2020 and 2029, boosting debt held by the public to 95 percent of GDP in that year—its highest level since just after World War II.
Presentation by Jared Jageler, David Adler, Noelia Duchovny, and Evan Herrnstadt, analysts in CBO’s Microeconomic Studies and Health Analysis Divisions, at the Association of Environmental and Resource Economists Summer Conference.
Presentation by Mark Hadley, CBO's Chief Operating Officer and General Counsel, at the 2nd NABO-OECD Annual Conference of Asian Parliamentary Budget Officials.
Presentation by Daria Pelech, an analyst in CBO’s Health Analysis Division, at the Center for Health Insurance Reform McCourt School of Public Policy, Georgetown University.
This slide deck highlights CBO’s key findings about the outlook for the economy as described in its new report, The Budget and Economic Outlook: 2024 to 2034.
Presentation by CBO analysts Rebecca Heller, Shannon Mok, and James Pearce, and Census Bureau research economist Jonathan Rothbaum at the American Economic Association Annual Meeting, Committee on Economic Statistics.
Presentation by Eric J. Labs, an analyst in CBO’s National Security Division, at the Bank of America 2024 Defense Outlook and Commercial Aerospace Forum.
Presentation by Elizabeth Ash, William Carrington, Rebecca Heller, and Grace Hwang of CBO’s Labor, Income Security, and Long-Term Analysis and Health Analysis divisions to the Children’s Health Group, American Academy of Pediatrics.
Presentation by Molly Dahl, Chief of CBO’s Long-Term Analysis Unit, at a meeting of the National Conference of State Legislatures’ Budget Working Group.
In the President’s 2024 budget request, total military compensation is $551 billion, including veterans' benefits. That amount represents an increase of 134 percent since 1999 after removing the effects of inflation.
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
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➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
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"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
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RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Choices for Federal Spending and Taxes: CBO Director Doug Elmendorf's Goldman Lecture at Wellesley College
1. Congressional Budget Office
Choices for Federal Spending and Taxes
Goldman Lecture at Wellesley College
Douglas W. Elmendorf
Director
September 13, 2012
2. How Big Are Projected Federal Deficits and
Debt?
CONGRESSIONAL BUDGET OFFICE
3. Deficits Projected in CBO’s Baseline and Under An
Alternative Fiscal Scenario
(Percentage of GDP)
Estimates from An Update to the Budget and Economic Outlook: Fiscal Years 2012 to 2022 (August 2012).
CONGRESSIONAL BUDGET OFFICE
4. Federal Debt Held by the Public, Historically and As Projected in
CBO’s Baseline and Under an Alternative Fiscal Scenario
(Percentage of GDP)
Estimates from An Update to the Budget and Economic Outlook: Fiscal Years 2012 to 2022 (August 2012).
CONGRESSIONAL BUDGET OFFICE
5. What Factors Are Putting Increasing
Pressure on the Budget?
CONGRESSIONAL BUDGET OFFICE
6. Components of the Federal Budget in 2020 Under the Alternative
Fiscal Scenario, Compared with Their Averages Since 1972
(Percentage of GDP)
Estimates from An Update to the Budget and Economic Outlook: Fiscal Years 2012 to 2022 (August 2012).
CONGRESSIONAL BUDGET OFFICE
7. We Cannot Go Back to the Past Combination of Tax
and Spending Policies
Existing federal programs are becoming much more
expensive because of:
The aging of the population, and
Rising costs for health care.
As a result of those factors and others, outlays for Social
Security and the major federal health care programs are
projected to total 12.2 percent of GDP in 2020 under the
alternative fiscal scenario, compared with an average of 7.3
percent over the past 40 years.
CONGRESSIONAL BUDGET OFFICE
8. What Are the Consequences of Rising
Federal Debt?
CONGRESSIONAL BUDGET OFFICE
9. Rising Federal Debt Would Have Significant Harmful
Consequences for the Federal Budget and the Economy
Higher interest payments on federal debt.
A reduction in national saving.
Limits on policymakers’ ability to use tax and spending
policies to respond to unexpected challenges, such as
economic downturns or financial crises.
An increase in the likelihood of a fiscal crisis.
CONGRESSIONAL BUDGET OFFICE
10. What Kinds of Policy Changes Could Lead to a
More Sustainable Budgetary Path?
CONGRESSIONAL BUDGET OFFICE
11. Three Possible Goals For Deficit Reduction in 2020
Approximate Amount of
Deficit Reduction in 2020 Impact on Budget Outcomes
(relative to AFS)
$1 Trillion Balance the budget by 2020; debt would be on a
steadily declining path relative to GDP.
$750 Billion Starting from the AFS, return roughly to deficits
and debt under the baseline; debt would be on a
slightly downward-sloping trajectory relative to
GDP.
$500 Billion Debt would be no larger a percentage of GDP at
the end of 2020 than it is projected to be at the
end of 2013 under the alternative fiscal scenario
(about 79 percent).
CONGRESSIONAL BUDGET OFFICE
12. Three Broad Categories of Changes
Putting the federal budget on a path that is more likely to be
sustainable than what would occur if current policies were
continued will require the United States to change those policies in
at least one of the following ways:
Make major reductions (relative to current policies) in the
benefits that people receive when they get older,
Substantially reduce the role of the rest of the federal
government (relative to the size of the economy) beyond the
reductions that are already projected to occur, or
Raise revenues significantly above their historical average as a
percentage of GDP.
CONGRESSIONAL BUDGET OFFICE
13. Spending on Social Security and Major Federal Health Care
Programs, Historically and Under the Alternative Fiscal Scenario
(Percentage of GDP)
6 Actual Projected
5
Social Security
4
3
Medicare
2
1 Medicaid, CHIP, and
Exchange Subsidies
and Related Spending
0
1972 1977 1982 1987 1992 1997 2002 2007 2012 2017 2022
Estimates from An Update to the Budget and Economic Outlook: Fiscal Years 2012 to 2022 (August 2012).
CONGRESSIONAL BUDGET OFFICE
14. Discretionary and “Other Mandatory” Spending,
Historically and Under the Alternative Fiscal Scenario
(Percentage of GDP)
Actual Projected
Estimates from An Update to the Budget and Economic Outlook: Fiscal Years 2012 to 2022 (August 2012). “Other Mandatory” includes programs
designed to provide income security, such as the Supplemental Nutrition Assistance Program and unemployment compensation; retirement benefits
for civilian and military federal employees; benefits for veterans; support for agriculture; and other activities. Estimates incorporate the assumption
that the automatic spending reductions required by the Budget Control Act do not take effect, although the original caps on discretionary
appropriations remain in place and are met through proportional reductions in defense and nondefense discretionary budget authority.
CONGRESSIONAL BUDGET OFFICE
16. Revenues Projected in CBO’s Baseline and Under the
Alternative Fiscal Scenario
(Percentage of GDP)
Estimates from An Update to the Budget and Economic Outlook: Fiscal Years 2012 to 2022 (August 2012).
CONGRESSIONAL BUDGET OFFICE
17. Selected Major Tax Expenditures in 2012, Compared
with Other Categories of Revenues and Outlays
(Percentage of GDP)
8 Outlays
Revenues
6
Payroll Tax
Expenditures
4
Individual
Income Tax
Expenditures
2
0
Individual Income Social Insurance Corporate Income Selected Major Medicare Defense Social Security
Taxes Taxes Taxes and Other Tax Expenditures
Revenues
Estimates of revenues and outlays from An Update to the Budget and Economic Outlook: Fiscal Years 2012 to 2022 (August 2012).
Estimates of tax expenditures based on estimates by the staff of the Joint Committee on Taxation and included in The Budget and
Economic Outlook: Fiscal Years 2012 to 2022 (January 2012).
CONGRESSIONAL BUDGET OFFICE
18. Total Average Federal Tax Rates for All Households,
by Before-Tax Income Group, 1979 to 2009
(Percent)
Data from The Distribution of Household Income and Average Federal Tax Rates, 2008 and 2009.
CONGRESSIONAL BUDGET OFFICE
19. What Criteria Might Be Used to Evaluate
Policy Changes?
CONGRESSIONAL BUDGET OFFICE
20. Determining What Combination of Policies to Pursue Is
Challenging and Many Factors May Play a Role
How big would the government be?
How would the government’s resources be allocated
among various priorities?
How much would deficits be reduced in the next 10
years and beyond?
What would the economic impact be in the short term
and over the long term?
Who would bear the burden of the proposed changes in
tax and spending policies?
CONGRESSIONAL BUDGET OFFICE
22. To put the budget on a path…
…that is more likely to be sustainable than what would
occur if current policies were continued, lawmakers will
need to adopt a combination of policies that will require
people to pay more for their government, accept less in
government benefits and services, or both. However,
achieving the amount of deficit reduction necessary to
shrink the debt relative to the size of the economy—or
even to keep the debt from growing—will be a formidable
task.
CONGRESSIONAL BUDGET OFFICE