Saving Our Future requires Tough Choices Today

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Table of contents

• Opening
• Composition of Federal Spending
• Fiscal Year 2004 and 2005 Deficits
• The Importance of Looking Beyond the 1st Year
• Estimated Fiscal Exposures (in $ trillions)
• How Big is Our Growing Fiscal Burden?
• Composition of Spending as a Share of GDP Assuming Discretionary Spending Grows with GDP after 2005 and All Expiring Tax Provisions are Extended
• Growth in Spending for Social Security, Medicare, and Medicaid Expected to Outpace Economic Growth
• Debt per Capita Could Exceed GDP Per Capita by 2030 Assuming Discretionary Spending Grows with GDP after 2005 and All Expiring Tax Provisions are Extended
• Measured on an Outlay Equivalent Basis, Tax Expenditures Exceeded Discretionary Spending for Most Years in the Last Decade
• Health Care Is the Nation's Top Tax Expenditure in Fiscal Year 2004
• Current Fiscal Policy Is Unsustainable
• The Way Forward: Three Pronged Approach
• 21st Century Challenges Report
• Moving the Debate Forward
• Federal Deficit Cartoon
• Close