President Trump's budget proposal would maintain total discretionary spending at the same amount as last year — but would reallocate billions from other programs into the defense and homeland security.
Peterson Foundation
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Peterson Foundation
@pgpfoundation
The Peter G. Peterson Foundation is a nonpartisan organization dedicated to America's fiscal and economic future. Follows/Retweets/Replies ≠ endorsement.
- These six indicators reveal a lot about the economic impact of the coronavirus. bit.ly/2Y78tqu
- The tax revenue collected in the U.S. is less as a share of GDP than in Japan, Canada, the United Kingdom, Germany, Italy and France. ctt.ec/F5j48+
- United States per capita #healthcare spending is almost twice the average of other wealthy, developed countries. ctt.ec/95o4h+
- The U.S. collects less revenue from corporations, relative to the size of the economy, than most other advanced nations. bit.ly/3k2GP9y
- Government shutdowns interrupt government programs and services ctt.ec/p63af+
- "This is a uniquely imbalanced time in our fiscal history, with deficits rising despite a growing economy and low unemployment," Michael Peterson, Chairman and CEO of @pgpfoundation, said. bit.ly/2yIvBhf #NationalDebt
- Tax myth: Low-income earners don't pay any federal taxes. bit.ly/31eLcoC
- Over the next five years, interest costs on the national debt will exceed federal spending on: - income-security programs - children - Medicaid, CHIP, and ACA subsidies combined - national defense
- Low- and moderate-income individuals pay a higher proportion of their income in payroll taxes than do higher-income taxpayers.
- #SNAP, the government's largest anti-hunger program, assisted ≈ 44 million Americans and made up 2% of the federal budget. bit.ly/2OcDG7F
