The United States is at a fiscal tipping point. This year, a full decade into the current economic expansion, the federal government is at risk of running a $1 trillion budget deficit. Without action, debt held by the public will surpass the size of the economy in the coming years. At the Bipartisan Policy Center (BPC), we have long been concerned with the trajectory of our nation’s debt burden. Further, we believe that the U.S. finds itself on this unsustainable fiscal path because the cost of its major social insurance programs—especially health and Social Security—are not aligned with the revenue brought in by the tax code.
To address the disconnect, BPC offers realistic, bipartisan, and politically viable solutions to the nation’s fiscal problems. For example, our plan would: modernize and enhance Social Security; simplify and improve the tax code; and enact long-overdue, comprehensive immigration reform.
The net result is that our plan would stabilize debt-to-GDP through commonsense spending reforms, while maintaining crucial public programs, increasing public investment, and raising revenues in a balanced and sustainable manner.
Read more about our plan in the links below.