You are here: Home / U. S. Economy / Financial Security / Do you know the State of the Union’s Finances?
Do you know the State of the Union’s Finances?
Sep 29, 2012

Do you know the State of the Union’s Finances?

By · 3 Comments

We’re now in the final two months of the 2012 election season. Candidates for national office, from the presidency to Congressional districts, will be making their case for how our nation can overcome its biggest challenges — including our long-term debt and deficits. In order to make sense of those arguments, it’s important for voters to understand the depth of the fiscal challenges we face, and the range of possible solutions.

That’s why the Peter G. Peterson Foundation has created the State of the Union’s Finances — an all-in-one guide to American fiscal policy aimed at helping engaged citizens understand this important issue during the election season. This detailed guide provides a breakdown of total federal spending and revenue, equipping you with the knowledge necessary to understand and evaluate the proposals candidates offer to curb our long-term national debt.

Click here to explore online key sections from the report or print a PDF

Having an informed, honest political debate about our nation’s fiscal challenges has never been more important than it is today. Our nation’s debt is currently at 70% of GDP. Under our current policies it will hit 90% of GDP by 2022 and soar to beyond 200% of GDP in the next 30 years. Many economists agree that debt-to-GDP should be 60% or less and that levels above 90% can be risky to economic growth. With the “Fiscal Cliff” approaching, our elected leaders will have an enormous opportunity to create meaningful policy reform.

For the original article click here.

Filed Under: Financial Security ·
  • Debra

    I doubt very seriously, if Romney will even be asked any questions in the debate about our economy. They are going to hit him with questions, which they think he has no answers for. Plus that would make Obama look bad, when he doesn’t even have answers as to why he has not balanced our budget yet, or be put on the spot, when he has to answer to cutting our defense budget at a time when our security as a nation is in more danger than ever. Obama has no answers about our economy except to give to the poor by taking away from the rich. He has promoted a wedge between the have and the have-nots, while spending money our nation does not have. He needs to stop giving our money away and put it into building a better America. Four years later and we are worse than we have ever been.

  • peggyc41

    No one knows the “State of the Union” , not even Obama. The reason? He doesn’t have a budget or know anything about budgets, but he puts forth some socialist agenda and blames the Republicans for not “working with him”. There is a reason nothing has been done in Congress. Thank goodness we have had a Republican house for 2 years or we’d have more than Obama care to deal with.

  • http://www.facebook.com/june.larsen.129 June MacGregor Larsen

    What would happen to the average household in the US if we had no budgets to go by as a guideline?
    The same as is happening to the USA — under the “leadership” (?) of Obama –LThe Ship the American Titanic is heading for the Iceberg of Fiscal insolvency!!
    Not to mention that most people in the private sector are fired when they cannot perform thier jobs with some competency??!!
    Let’s vote Obama ourt of the “Sham” of leadership he spouts – and let him find a job that is more in keeping with his obvious talent — ACTOR!!! His performance as President should win him an Oscar!!!