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FIX THE DEBT
The Campaign to Fix the Debt seeks bipartisan government spending and tax reform to combat rising national debt and budget deficits. LEARN | FIX THE DEBT Infographics and Facts. Our briefs succinctly cover basic topics like the national debt and deficits, the federal budget, and why it all matters to you and your family. LEARN MORE | FIX THE DEBT August 17, 2020. The Campaign to Fix the Debt is pleased to announce and honor a new class of Fiscal Heroes for 2020, listed below. This bipartisan group of 14 Senators and 28 House members has distinguished themselves by showing leadership on issues of fiscal responsibility. The following is a statement from Maya MacGuineas, president of theGET INVOLVED
Write a Letter to the Editor of your local newspaper about the need to address the national debt. Find your local paper here and write and send your letter directly to the newspaper. Here are some tips for writing your letter: Pick one newspaper to write to. If that paperIS IT WORTH IT
The “Exclusion of Capital Gains at Death” allows capital gains on assets held at their owner’s death to be tax-free. For example, assume that a stock is originally purchased at $10/share, its owner dies when the stock is valued at $50/share, and the heir sells it for$60/share.
THE LATEST BUDGET NUMBERS The latest official numbers, including the budget and economic forecast for the next decade from the nonpartisan Congressional Budget Office (CBO), show national debt rising well past historical norms and warns of serious consequences. Here are the key figures and what they mean. Permanent Trillion-Dollar Deficits Begin this Year. The federal budget deficit is projected to be $1.02 trillion FIXUS - FIX THE DEBT FixUS seeks to better understand the root causes of our nation’s growing divisions and deteriorating political system and build supportfor change.
NATIONAL DEBT AND YOU The U.S. national debt is at post-war record highs, both in dollars and as a share of the economy. And not only has it grown from 35 percent of GDP in 2007—about the post-war average—to 78 percent today, it is projected to exceed the entire economy in 12 years orless.
FEDERAL BUDGET
A budget deficit results when spending exceeds revenue, which has happened every year since 2001 and is forecast to occur each year going forward unless something is done. The government has to borrow to make up the difference between spending and revenue when deficits occur. In 2018, about one-fifth of government spending was financed by SECURING SOCIAL SECURITY Social Security is vital to the financial well-being of many Americans, directly benefiting one‑fifth of the population. However, the Trustees who oversee it warn that an aging society will strain the current system. They call for timely changes to make the program sustainable for future retirees.FIX THE DEBT
The Campaign to Fix the Debt seeks bipartisan government spending and tax reform to combat rising national debt and budget deficits. LEARN | FIX THE DEBT Infographics and Facts. Our briefs succinctly cover basic topics like the national debt and deficits, the federal budget, and why it all matters to you and your family. LEARN MORE | FIX THE DEBT August 17, 2020. The Campaign to Fix the Debt is pleased to announce and honor a new class of Fiscal Heroes for 2020, listed below. This bipartisan group of 14 Senators and 28 House members has distinguished themselves by showing leadership on issues of fiscal responsibility. The following is a statement from Maya MacGuineas, president of theGET INVOLVED
Write a Letter to the Editor of your local newspaper about the need to address the national debt. Find your local paper here and write and send your letter directly to the newspaper. Here are some tips for writing your letter: Pick one newspaper to write to. If that paperIS IT WORTH IT
The “Exclusion of Capital Gains at Death” allows capital gains on assets held at their owner’s death to be tax-free. For example, assume that a stock is originally purchased at $10/share, its owner dies when the stock is valued at $50/share, and the heir sells it for$60/share.
THE LATEST BUDGET NUMBERS The latest official numbers, including the budget and economic forecast for the next decade from the nonpartisan Congressional Budget Office (CBO), show national debt rising well past historical norms and warns of serious consequences. Here are the key figures and what they mean. Permanent Trillion-Dollar Deficits Begin this Year. The federal budget deficit is projected to be $1.02 trillion FIXUS - FIX THE DEBT FixUS seeks to better understand the root causes of our nation’s growing divisions and deteriorating political system and build supportfor change.
NATIONAL DEBT AND YOU The U.S. national debt is at post-war record highs, both in dollars and as a share of the economy. And not only has it grown from 35 percent of GDP in 2007—about the post-war average—to 78 percent today, it is projected to exceed the entire economy in 12 years orless.
FEDERAL BUDGET
A budget deficit results when spending exceeds revenue, which has happened every year since 2001 and is forecast to occur each year going forward unless something is done. The government has to borrow to make up the difference between spending and revenue when deficits occur. In 2018, about one-fifth of government spending was financed by SECURING SOCIAL SECURITY Social Security is vital to the financial well-being of many Americans, directly benefiting one‑fifth of the population. However, the Trustees who oversee it warn that an aging society will strain the current system. They call for timely changes to make the program sustainable for future retirees.GOVERNMENT SPENDING
Learn all about the U.S. government spending process. Creating a budget is just one step in financing the federal government. Specific decisions about government spending are made through an annual process called appropriations.Here are answers to key questions to better understand the process. LONG-TERM BUDGET OUTLOOK Each year, the nonpartisan Congressional Budget Office produces a long-term forecast for budget deficits, national debt, revenue, and government spending. Here’s what you need to know about where we are headed. See a more detailed analysis that includes alternative projections if the recent tax cuts and spending increases are extendedhere.
POLARIZATION-PANDEMIC Help us put the national debt on a sustainable path.FACTS OF INTEREST
Interest on the national debt will reach nearly $1 trillion a year ina decade.
FIXUS LIBRARY
Help us put the national debt on a sustainable path. TRILLION THE NEW BILLION Help us put the national debt on a sustainable path. DEBT MYTHS - FIX THE DEBT Fact: A comprehensive and gradual deficit reduction plan can replace austerity with more targeted and pro-growth reforms that promote economic recovery and accelerate long-term wage growth. For example, the Congressional Budget Office found that putting debt on a downward path back to the historic average would help the economy, increasing average real income by $6,000 by 2048 compared to theFIXTHEDEBT.ORG
fixthedebt.org
FISCAL HEROES
2018 Fiscal Heroes. Sen. Michael Bennet (D-CO) Rep. Jim Cooper (D-TN) Rep. John Delaney (D-MD) Rep. Steny Hoyer (D-MD) Rep. Walter Jones (R-NC) Rep. Ron Kind (DWWW.FIXTHEDEBT.ORG
www.fixthedebt.org
FIX THE DEBT
The Campaign to Fix the Debt seeks bipartisan government spending and tax reform to combat rising national debt and budget deficits. LEARN | FIX THE DEBT Infographics and Facts. Our briefs succinctly cover basic topics like the national debt and deficits, the federal budget, and why it all matters to you and your family. LEARN MORE | FIX THE DEBT August 17, 2020. The Campaign to Fix the Debt is pleased to announce and honor a new class of Fiscal Heroes for 2020, listed below. This bipartisan group of 14 Senators and 28 House members has distinguished themselves by showing leadership on issues of fiscal responsibility. The following is a statement from Maya MacGuineas, president of theGET INVOLVED
Write a Letter to the Editor of your local newspaper about the need to address the national debt. Find your local paper here and write and send your letter directly to the newspaper. Here are some tips for writing your letter: Pick one newspaper to write to. If that paper THE LATEST BUDGET NUMBERS The latest official numbers, including the budget and economic forecast for the next decade from the nonpartisan Congressional Budget Office (CBO), show national debt rising well past historical norms and warns of serious consequences. Here are the key figures and what they mean. Permanent Trillion-Dollar Deficits Begin this Year. The federal budget deficit is projected to be $1.02 trillionIS IT WORTH IT
The “Exclusion of Capital Gains at Death” allows capital gains on assets held at their owner’s death to be tax-free. For example, assume that a stock is originally purchased at $10/share, its owner dies when the stock is valued at $50/share, and the heir sells it for$60/share.
FIXUS - FIX THE DEBT FixUS seeks to better understand the root causes of our nation’s growing divisions and deteriorating political system and build supportfor change.
NATIONAL DEBT AND YOU The U.S. national debt is at post-war record highs, both in dollars and as a share of the economy. And not only has it grown from 35 percent of GDP in 2007—about the post-war average—to 78 percent today, it is projected to exceed the entire economy in 12 years orless.
GOVERNMENT SPENDING
The appropriations process generally involves discretionary spending, which includes all the various departments (Department of Defense, Department of State, etc.) and federal agencies such as the Environmental Protection Agency. It does not cover mandatory (or direct) spending, which is based on eligibility requirements andfunding formulas
SECURING SOCIAL SECURITY Social Security is vital to the financial well-being of many Americans, directly benefiting one‑fifth of the population. However, the Trustees who oversee it warn that an aging society will strain the current system. They call for timely changes to make the program sustainable for future retirees.FIX THE DEBT
The Campaign to Fix the Debt seeks bipartisan government spending and tax reform to combat rising national debt and budget deficits. LEARN | FIX THE DEBT Infographics and Facts. Our briefs succinctly cover basic topics like the national debt and deficits, the federal budget, and why it all matters to you and your family. LEARN MORE | FIX THE DEBT August 17, 2020. The Campaign to Fix the Debt is pleased to announce and honor a new class of Fiscal Heroes for 2020, listed below. This bipartisan group of 14 Senators and 28 House members has distinguished themselves by showing leadership on issues of fiscal responsibility. The following is a statement from Maya MacGuineas, president of theGET INVOLVED
Write a Letter to the Editor of your local newspaper about the need to address the national debt. Find your local paper here and write and send your letter directly to the newspaper. Here are some tips for writing your letter: Pick one newspaper to write to. If that paper THE LATEST BUDGET NUMBERS The latest official numbers, including the budget and economic forecast for the next decade from the nonpartisan Congressional Budget Office (CBO), show national debt rising well past historical norms and warns of serious consequences. Here are the key figures and what they mean. Permanent Trillion-Dollar Deficits Begin this Year. The federal budget deficit is projected to be $1.02 trillionIS IT WORTH IT
The “Exclusion of Capital Gains at Death” allows capital gains on assets held at their owner’s death to be tax-free. For example, assume that a stock is originally purchased at $10/share, its owner dies when the stock is valued at $50/share, and the heir sells it for$60/share.
FIXUS - FIX THE DEBT FixUS seeks to better understand the root causes of our nation’s growing divisions and deteriorating political system and build supportfor change.
NATIONAL DEBT AND YOU The U.S. national debt is at post-war record highs, both in dollars and as a share of the economy. And not only has it grown from 35 percent of GDP in 2007—about the post-war average—to 78 percent today, it is projected to exceed the entire economy in 12 years orless.
GOVERNMENT SPENDING
The appropriations process generally involves discretionary spending, which includes all the various departments (Department of Defense, Department of State, etc.) and federal agencies such as the Environmental Protection Agency. It does not cover mandatory (or direct) spending, which is based on eligibility requirements andfunding formulas
SECURING SOCIAL SECURITY Social Security is vital to the financial well-being of many Americans, directly benefiting one‑fifth of the population. However, the Trustees who oversee it warn that an aging society will strain the current system. They call for timely changes to make the program sustainable for future retirees. THE LATEST BUDGET NUMBERS The latest official numbers, including the budget and economic forecast for the next decade from the nonpartisan Congressional Budget Office (CBO), show national debt rising well past historical norms and warns of serious consequences. Here are the key figures and what they mean. Permanent Trillion-Dollar Deficits Begin this Year. The federal budget deficit is projected to be $1.02 trillion POLARIZATION-PANDEMIC Help us put the national debt on a sustainable path.FACTS OF INTEREST
Interest on the national debt will reach nearly $1 trillion a year ina decade.
DEBT MYTHS - FIX THE DEBT Fact: A comprehensive and gradual deficit reduction plan can replace austerity with more targeted and pro-growth reforms that promote economic recovery and accelerate long-term wage growth. For example, the Congressional Budget Office found that putting debt on a downward path back to the historic average would help the economy, increasing average real income by $6,000 by 2048 compared to the LONG-TERM BUDGET OUTLOOK Debt will nearly double from 78 percent of the economy today to 144 percent by 2049. The situation would get even worse if tax cuts and spending increases currently set to expire are extended. Under this scenario, debt will exceed the size of the economy by 2028, hit a new record by 2030, and double the size of the economy by 2047. TRILLION THE NEW BILLION Help us put the national debt on a sustainable path.FIXUS LIBRARY
Help us put the national debt on a sustainable path.FIXTHEDEBT.ORG
fixthedebt.org
SECURING SOCIAL SECURITY Social Security is vital to the financial well-being of many Americans, directly benefiting one‑fifth of the population. However, the Trustees who oversee it warn that an aging society will strain the current system. They call for timely changes to make the program sustainable for future retirees. 6 THINGS FOR THE BUDGET The federal budget and government spending process is well behind schedule and faltering. With budget deficits and national debt forecast to rise considerably in the years to come, lawmakers must not fail to do their duty and use this opportunity to put the country on a much better course. We highlight several things that Congress should do as it considers the budget and funding the government.FIX THE DEBT
The Campaign to Fix the Debt seeks bipartisan government spending and tax reform to combat rising national debt and budget deficits. LEARN | FIX THE DEBT Infographics and Facts. Our briefs succinctly cover basic topics like the national debt and deficits, the federal budget, and why it all matters to you and your family. LEARN MORE | FIX THE DEBT August 17, 2020. The Campaign to Fix the Debt is pleased to announce and honor a new class of Fiscal Heroes for 2020, listed below. This bipartisan group of 14 Senators and 28 House members has distinguished themselves by showing leadership on issues of fiscal responsibility. The following is a statement from Maya MacGuineas, president of theGET INVOLVED
Write a Letter to the Editor of your local newspaper about the need to address the national debt. Find your local paper here and write and send your letter directly to the newspaper. Here are some tips for writing your letter: Pick one newspaper to write to. If that paper FIXUS - FIX THE DEBT FixUS seeks to better understand the root causes of our nation’s growing divisions and deteriorating political system and build supportfor change.
THE LATEST BUDGET NUMBERS The latest official numbers, including the budget and economic forecast for the next decade from the nonpartisan Congressional Budget Office (CBO), show national debt rising well past historical norms and warns of serious consequences. Here are the key figures and what they mean. Permanent Trillion-Dollar Deficits Begin this Year. The federal budget deficit is projected to be $1.02 trillionIS IT WORTH IT
The “Exclusion of Capital Gains at Death” allows capital gains on assets held at their owner’s death to be tax-free. For example, assume that a stock is originally purchased at $10/share, its owner dies when the stock is valued at $50/share, and the heir sells it for$60/share.
LONG-TERM BUDGET OUTLOOK Debt will nearly double from 78 percent of the economy today to 144 percent by 2049. The situation would get even worse if tax cuts and spending increases currently set to expire are extended. Under this scenario, debt will exceed the size of the economy by 2028, hit a new record by 2030, and double the size of the economy by 2047. SECURING SOCIAL SECURITY Social Security is vital to the financial well-being of many Americans, directly benefiting one‑fifth of the population. However, the Trustees who oversee it warn that an aging society will strain the current system. They call for timely changes to make the program sustainable for future retirees.WWW.FIXTHEDEBT.ORG
www.fixthedebt.org
FIX THE DEBT
The Campaign to Fix the Debt seeks bipartisan government spending and tax reform to combat rising national debt and budget deficits. LEARN | FIX THE DEBT Infographics and Facts. Our briefs succinctly cover basic topics like the national debt and deficits, the federal budget, and why it all matters to you and your family. LEARN MORE | FIX THE DEBT August 17, 2020. The Campaign to Fix the Debt is pleased to announce and honor a new class of Fiscal Heroes for 2020, listed below. This bipartisan group of 14 Senators and 28 House members has distinguished themselves by showing leadership on issues of fiscal responsibility. The following is a statement from Maya MacGuineas, president of theGET INVOLVED
Write a Letter to the Editor of your local newspaper about the need to address the national debt. Find your local paper here and write and send your letter directly to the newspaper. Here are some tips for writing your letter: Pick one newspaper to write to. If that paper FIXUS - FIX THE DEBT FixUS seeks to better understand the root causes of our nation’s growing divisions and deteriorating political system and build supportfor change.
THE LATEST BUDGET NUMBERS The latest official numbers, including the budget and economic forecast for the next decade from the nonpartisan Congressional Budget Office (CBO), show national debt rising well past historical norms and warns of serious consequences. Here are the key figures and what they mean. Permanent Trillion-Dollar Deficits Begin this Year. The federal budget deficit is projected to be $1.02 trillionIS IT WORTH IT
The “Exclusion of Capital Gains at Death” allows capital gains on assets held at their owner’s death to be tax-free. For example, assume that a stock is originally purchased at $10/share, its owner dies when the stock is valued at $50/share, and the heir sells it for$60/share.
LONG-TERM BUDGET OUTLOOK Debt will nearly double from 78 percent of the economy today to 144 percent by 2049. The situation would get even worse if tax cuts and spending increases currently set to expire are extended. Under this scenario, debt will exceed the size of the economy by 2028, hit a new record by 2030, and double the size of the economy by 2047. SECURING SOCIAL SECURITY Social Security is vital to the financial well-being of many Americans, directly benefiting one‑fifth of the population. However, the Trustees who oversee it warn that an aging society will strain the current system. They call for timely changes to make the program sustainable for future retirees.WWW.FIXTHEDEBT.ORG
www.fixthedebt.org
ABOUT US | FIX THE DEBT Fix the Debt is a nonpartisan organization that is educating Americans about rising national debt and how it will affect all of us. It is a project of the Committee for a Responsible Federal Budget.. We are mobilizing Americans from all backgrounds to urge policymakers to work together on a comprehensive solution that includes bipartisan government spending and tax reform.FIX THE DEBT
National debt is rising. See 5 ways Washington can make good on promises to fix the debt. NATIONAL DEBT AND YOU The U.S. national debt is at post-war record highs, both in dollars and as a share of the economy. And not only has it grown from 35 percent of GDP in 2007—about the post-war average—to 78 percent today, it is projected to exceed the entire economy in 12 years orless.
FIX THE DEBT
Fix the Debt. (202) 596-3597 Contact the Fix the Debt campaign at info@fixthedebt.org . Press inquiries should be directed totomchik@crfb.org.
FEDERAL BUDGET
A budget deficit results when spending exceeds revenue, which has happened every year since 2001 and is forecast to occur each year going forward unless something is done. The government has to borrow to make up the difference between spending and revenue when deficits occur. In 2018, about one-fifth of government spending was financed by DEBT MYTHS - FIX THE DEBT Fact: The era of trillion-dollar deficits is coming. In 2018, our government spent $779 billion more than it took in, which was higher than the previous year's deficit. Deficits and the debt are now on an upward trajectory, with debt on track to grow by more than $13 trillion over the next ten years. MEDICARE NEEDS A FIX Help us put the national debt on a sustainable path.NEED FOR TAX REFORM
The last comprehensive, bipartisan tax reform in this country was over thirty years ago. Since then, American taxes have grown in complexity, with the U.S. tax code now containing nearly 4 million words that sanction $1.6 trillion annually in lost revenue through various tax breaks and loopholes. The U.S. has fallen behind other countries incompetitiveness.
FISCAL HEROES
2018 Fiscal Heroes. Sen. Michael Bennet (D-CO) Rep. Jim Cooper (D-TN) Rep. John Delaney (D-MD) Rep. Steny Hoyer (D-MD) Rep. Walter Jones (R-NC) Rep. Ron Kind (D 6 THINGS FOR THE BUDGET The federal budget and government spending process is well behind schedule and faltering. With budget deficits and national debt forecast to rise considerably in the years to come, lawmakers must not fail to do their duty and use this opportunity to put the country on a much better course. We highlight several things that Congress should do as it considers the budget and funding the government.FIX THE DEBT
The Campaign to Fix the Debt seeks bipartisan government spending and tax reform to combat rising national debt and budget deficits. LEARN | FIX THE DEBT Infographics and Facts. Our briefs succinctly cover basic topics like the national debt and deficits, the federal budget, and why it all matters to you and your family. LEARN MORE | FIX THE DEBT August 17, 2020. The Campaign to Fix the Debt is pleased to announce and honor a new class of Fiscal Heroes for 2020, listed below. This bipartisan group of 14 Senators and 28 House members has distinguished themselves by showing leadership on issues of fiscal responsibility. The following is a statement from Maya MacGuineas, president of theGET INVOLVED
Write a Letter to the Editor of your local newspaper about the need to address the national debt. Find your local paper here and write and send your letter directly to the newspaper. Here are some tips for writing your letter: Pick one newspaper to write to. If that paper FIXUS - FIX THE DEBT FixUS seeks to better understand the root causes of our nation’s growing divisions and deteriorating political system and build supportfor change.
THE LATEST BUDGET NUMBERS The latest official numbers, including the budget and economic forecast for the next decade from the nonpartisan Congressional Budget Office (CBO), show national debt rising well past historical norms and warns of serious consequences. Here are the key figures and what they mean. Permanent Trillion-Dollar Deficits Begin this Year. The federal budget deficit is projected to be $1.02 trillionIS IT WORTH IT
The “Exclusion of Capital Gains at Death” allows capital gains on assets held at their owner’s death to be tax-free. For example, assume that a stock is originally purchased at $10/share, its owner dies when the stock is valued at $50/share, and the heir sells it for$60/share.
GOVERNMENT SPENDING
The appropriations process generally involves discretionary spending, which includes all the various departments (Department of Defense, Department of State, etc.) and federal agencies such as the Environmental Protection Agency. It does not cover mandatory (or direct) spending, which is based on eligibility requirements andfunding formulas
LONG-TERM BUDGET OUTLOOK Debt will nearly double from 78 percent of the economy today to 144 percent by 2049. The situation would get even worse if tax cuts and spending increases currently set to expire are extended. Under this scenario, debt will exceed the size of the economy by 2028, hit a new record by 2030, and double the size of the economy by 2047. SECURING SOCIAL SECURITY Social Security is vital to the financial well-being of many Americans, directly benefiting one‑fifth of the population. However, the Trustees who oversee it warn that an aging society will strain the current system. They call for timely changes to make the program sustainable for future retirees.FIX THE DEBT
The Campaign to Fix the Debt seeks bipartisan government spending and tax reform to combat rising national debt and budget deficits. LEARN | FIX THE DEBT Infographics and Facts. Our briefs succinctly cover basic topics like the national debt and deficits, the federal budget, and why it all matters to you and your family. LEARN MORE | FIX THE DEBT August 17, 2020. The Campaign to Fix the Debt is pleased to announce and honor a new class of Fiscal Heroes for 2020, listed below. This bipartisan group of 14 Senators and 28 House members has distinguished themselves by showing leadership on issues of fiscal responsibility. The following is a statement from Maya MacGuineas, president of theGET INVOLVED
Write a Letter to the Editor of your local newspaper about the need to address the national debt. Find your local paper here and write and send your letter directly to the newspaper. Here are some tips for writing your letter: Pick one newspaper to write to. If that paper FIXUS - FIX THE DEBT FixUS seeks to better understand the root causes of our nation’s growing divisions and deteriorating political system and build supportfor change.
THE LATEST BUDGET NUMBERS The latest official numbers, including the budget and economic forecast for the next decade from the nonpartisan Congressional Budget Office (CBO), show national debt rising well past historical norms and warns of serious consequences. Here are the key figures and what they mean. Permanent Trillion-Dollar Deficits Begin this Year. The federal budget deficit is projected to be $1.02 trillionIS IT WORTH IT
The “Exclusion of Capital Gains at Death” allows capital gains on assets held at their owner’s death to be tax-free. For example, assume that a stock is originally purchased at $10/share, its owner dies when the stock is valued at $50/share, and the heir sells it for$60/share.
GOVERNMENT SPENDING
The appropriations process generally involves discretionary spending, which includes all the various departments (Department of Defense, Department of State, etc.) and federal agencies such as the Environmental Protection Agency. It does not cover mandatory (or direct) spending, which is based on eligibility requirements andfunding formulas
LONG-TERM BUDGET OUTLOOK Debt will nearly double from 78 percent of the economy today to 144 percent by 2049. The situation would get even worse if tax cuts and spending increases currently set to expire are extended. Under this scenario, debt will exceed the size of the economy by 2028, hit a new record by 2030, and double the size of the economy by 2047. SECURING SOCIAL SECURITY Social Security is vital to the financial well-being of many Americans, directly benefiting one‑fifth of the population. However, the Trustees who oversee it warn that an aging society will strain the current system. They call for timely changes to make the program sustainable for future retirees. ABOUT US | FIX THE DEBT Fix the Debt is a nonpartisan organization that is educating Americans about rising national debt and how it will affect all of us. It is a project of the Committee for a Responsible Federal Budget.. We are mobilizing Americans from all backgrounds to urge policymakers to work together on a comprehensive solution that includes bipartisan government spending and tax reform. NATIONAL DEBT AND YOU The U.S. national debt is at post-war record highs, both in dollars and as a share of the economy. And not only has it grown from 35 percent of GDP in 2007—about the post-war average—to 78 percent today, it is projected to exceed the entire economy in 12 years orless.
LONG-TERM BUDGET OUTLOOK Debt will nearly double from 78 percent of the economy today to 144 percent by 2049. The situation would get even worse if tax cuts and spending increases currently set to expire are extended. Under this scenario, debt will exceed the size of the economy by 2028, hit a new record by 2030, and double the size of the economy by 2047.FIX THE DEBT
Fix the Debt. (202) 596-3597 Contact the Fix the Debt campaign at info@fixthedebt.org . Press inquiries should be directed totomchik@crfb.org.
FEDERAL BUDGET
A budget deficit results when spending exceeds revenue, which has happened every year since 2001 and is forecast to occur each year going forward unless something is done. The government has to borrow to make up the difference between spending and revenue when deficits occur. In 2018, about one-fifth of government spending was financed by DEBT MYTHS - FIX THE DEBT Fact: A comprehensive and gradual deficit reduction plan can replace austerity with more targeted and pro-growth reforms that promote economic recovery and accelerate long-term wage growth. For example, the Congressional Budget Office found that putting debt on a downward path back to the historic average would help the economy, increasing average real income by $6,000 by 2048 compared to theNEED FOR TAX REFORM
The last comprehensive, bipartisan tax reform in this country was over thirty years ago. Since then, American taxes have grown in complexity, with the U.S. tax code now containing nearly 4 million words that sanction $1.6 trillion annually in lost revenue through various tax breaks and loopholes. The U.S. has fallen behind other countries incompetitiveness.
MEDICARE NEEDS A FIX Help us put the national debt on a sustainable path. 6 THINGS FOR THE BUDGET The federal budget and government spending process is well behind schedule and faltering. With budget deficits and national debt forecast to rise considerably in the years to come, lawmakers must not fail to do their duty and use this opportunity to put the country on a much better course. We highlight several things that Congress should do as it considers the budget and funding the government.FISCAL HEROES
2018 Fiscal Heroes. Sen. Michael Bennet (D-CO) Rep. Jim Cooper (D-TN) Rep. John Delaney (D-MD) Rep. Steny Hoyer (D-MD) Rep. Walter Jones (R-NC) Rep. Ron Kind (DFIX THE DEBT
The Campaign to Fix the Debt seeks bipartisan government spending and tax reform to combat rising national debt and budget deficits. LEARN | FIX THE DEBTFIX THE DEBTFIX THE DEBT GAMEFIX THE NATIONAL DEBT GAMEHOW TO FIX MY DEBTHOW TO FIX YOUR DEBTHOW TO FIX NATIONAL DEBT Infographics and Facts. Our briefs succinctly cover basic topics like the national debt and deficits, the federal budget, and why it all matters to you and your family. LEARN MORE | FIX THE DEBT August 17, 2020. The Campaign to Fix the Debt is pleased to announce and honor a new class of Fiscal Heroes for 2020, listed below. This bipartisan group of 14 Senators and 28 House members has distinguished themselves by showing leadership on issues of fiscal responsibility. The following is a statement from Maya MacGuineas, president of theGET INVOLVED
Write a Letter to the Editor of your local newspaper about the need to address the national debt. Find your local paper here and write and send your letter directly to the newspaper. Here are some tips for writing your letter: Pick one newspaper to write to. If that paper FIXUS - FIX THE DEBT FixUS seeks to better understand the root causes of our nation’s growing divisions and deteriorating political system and build supportfor change.
THE LATEST BUDGET NUMBERS The latest official numbers, including the budget and economic forecast for the next decade from the nonpartisan Congressional Budget Office (CBO), show national debt rising well past historical norms and warns of serious consequences. Here are the key figures and what they mean. Permanent Trillion-Dollar Deficits Begin this Year. The federal budget deficit is projected to be $1.02 trillionIS IT WORTH IT
The “Exclusion of Capital Gains at Death” allows capital gains on assets held at their owner’s death to be tax-free. For example, assume that a stock is originally purchased at $10/share, its owner dies when the stock is valued at $50/share, and the heir sells it for$60/share.
GOVERNMENT SPENDING
The appropriations process generally involves discretionary spending, which includes all the various departments (Department of Defense, Department of State, etc.) and federal agencies such as the Environmental Protection Agency. It does not cover mandatory (or direct) spending, which is based on eligibility requirements andfunding formulas
LONG-TERM BUDGET OUTLOOK Debt will nearly double from 78 percent of the economy today to 144 percent by 2049. The situation would get even worse if tax cuts and spending increases currently set to expire are extended. Under this scenario, debt will exceed the size of the economy by 2028, hit a new record by 2030, and double the size of the economy by 2047. SECURING SOCIAL SECURITY Social Security is vital to the financial well-being of many Americans, directly benefiting one‑fifth of the population. However, the Trustees who oversee it warn that an aging society will strain the current system. They call for timely changes to make the program sustainable for future retirees.FIX THE DEBT
The Campaign to Fix the Debt seeks bipartisan government spending and tax reform to combat rising national debt and budget deficits. LEARN | FIX THE DEBT Infographics and Facts. Our briefs succinctly cover basic topics like the national debt and deficits, the federal budget, and why it all matters to you and your family. LEARN MORE | FIX THE DEBT August 17, 2020. The Campaign to Fix the Debt is pleased to announce and honor a new class of Fiscal Heroes for 2020, listed below. This bipartisan group of 14 Senators and 28 House members has distinguished themselves by showing leadership on issues of fiscal responsibility. The following is a statement from Maya MacGuineas, president of theGET INVOLVED
Write a Letter to the Editor of your local newspaper about the need to address the national debt. Find your local paper here and write and send your letter directly to the newspaper. Here are some tips for writing your letter: Pick one newspaper to write to. If that paper FIXUS - FIX THE DEBT FixUS seeks to better understand the root causes of our nation’s growing divisions and deteriorating political system and build supportfor change.
THE LATEST BUDGET NUMBERS The latest official numbers, including the budget and economic forecast for the next decade from the nonpartisan Congressional Budget Office (CBO), show national debt rising well past historical norms and warns of serious consequences. Here are the key figures and what they mean. Permanent Trillion-Dollar Deficits Begin this Year. The federal budget deficit is projected to be $1.02 trillionIS IT WORTH IT
The “Exclusion of Capital Gains at Death” allows capital gains on assets held at their owner’s death to be tax-free. For example, assume that a stock is originally purchased at $10/share, its owner dies when the stock is valued at $50/share, and the heir sells it for$60/share.
GOVERNMENT SPENDING
The appropriations process generally involves discretionary spending, which includes all the various departments (Department of Defense, Department of State, etc.) and federal agencies such as the Environmental Protection Agency. It does not cover mandatory (or direct) spending, which is based on eligibility requirements andfunding formulas
LONG-TERM BUDGET OUTLOOK Debt will nearly double from 78 percent of the economy today to 144 percent by 2049. The situation would get even worse if tax cuts and spending increases currently set to expire are extended. Under this scenario, debt will exceed the size of the economy by 2028, hit a new record by 2030, and double the size of the economy by 2047. SECURING SOCIAL SECURITY Social Security is vital to the financial well-being of many Americans, directly benefiting one‑fifth of the population. However, the Trustees who oversee it warn that an aging society will strain the current system. They call for timely changes to make the program sustainable for future retirees. ABOUT US | FIX THE DEBT Fix the Debt is a nonpartisan organization that is educating Americans about rising national debt and how it will affect all of us. It is a project of the Committee for a Responsible Federal Budget.. We are mobilizing Americans from all backgrounds to urge policymakers to work together on a comprehensive solution that includes bipartisan government spending and tax reform. NATIONAL DEBT AND YOU The U.S. national debt is at post-war record highs, both in dollars and as a share of the economy. And not only has it grown from 35 percent of GDP in 2007—about the post-war average—to 78 percent today, it is projected to exceed the entire economy in 12 years orless.
LONG-TERM BUDGET OUTLOOK Debt will nearly double from 78 percent of the economy today to 144 percent by 2049. The situation would get even worse if tax cuts and spending increases currently set to expire are extended. Under this scenario, debt will exceed the size of the economy by 2028, hit a new record by 2030, and double the size of the economy by 2047.FIX THE DEBT
Fix the Debt. (202) 596-3597 Contact the Fix the Debt campaign at info@fixthedebt.org . Press inquiries should be directed totomchik@crfb.org.
FEDERAL BUDGET
A budget deficit results when spending exceeds revenue, which has happened every year since 2001 and is forecast to occur each year going forward unless something is done. The government has to borrow to make up the difference between spending and revenue when deficits occur. In 2018, about one-fifth of government spending was financed by DEBT MYTHS - FIX THE DEBT Fact: A comprehensive and gradual deficit reduction plan can replace austerity with more targeted and pro-growth reforms that promote economic recovery and accelerate long-term wage growth. For example, the Congressional Budget Office found that putting debt on a downward path back to the historic average would help the economy, increasing average real income by $6,000 by 2048 compared to the MEDICARE NEEDS A FIX Help us put the national debt on a sustainable path.NEED FOR TAX REFORM
The last comprehensive, bipartisan tax reform in this country was over thirty years ago. Since then, American taxes have grown in complexity, with the U.S. tax code now containing nearly 4 million words that sanction $1.6 trillion annually in lost revenue through various tax breaks and loopholes. The U.S. has fallen behind other countries incompetitiveness.
6 THINGS FOR THE BUDGET The federal budget and government spending process is well behind schedule and faltering. With budget deficits and national debt forecast to rise considerably in the years to come, lawmakers must not fail to do their duty and use this opportunity to put the country on a much better course. We highlight several things that Congress should do as it considers the budget and funding the government.FISCAL HEROES
2018 Fiscal Heroes. Sen. Michael Bennet (D-CO) Rep. Jim Cooper (D-TN) Rep. John Delaney (D-MD) Rep. Steny Hoyer (D-MD) Rep. Walter Jones (R-NC) Rep. Ron Kind (D* Home
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FIX THE DEBT
WE OWE IT TO THE FUTURE We Owe it to the FutureWe Owe it to the FutureWe Owe it to the Future Help us put the national debt on a sustainable path.Join Us
IS IT WORTH IT? COMPARE THE COSTS OF NEW POLICY PROPOSALS AND CURRENTPROGRAMS.
Is It Worth it?
BUDGETING FOR THE FUTURE Test your budget IQ, discover your budget personality, demonstrate your priorities, and much more with the new Budgeting for the Future suite of tools. Check out _Budgeting for the Future_.
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Join Fix the Debt and receive regular updates and opportunities to get involved. Learn how to spread the word, such as giving presentations in your community about the national debt. _Get Involved._LEARN MORE
Learn about the federal budget deficit and national debt and how it all affects you and our future. Our resources include interactive tools and infographics. _Learn More_ _._FIXUS
FixUS seeks to better understand the root causes of our nation’s growing divisions and deteriorating political system, to work with others to bring attention to these issues and the need to fix them, and to build support for necessary changes. _More on FixUS._ FIX THE DEBT YOURSELF WITH THE DEBT FIXER BUDGET TOOL.Debt Fixer
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