PrintAugust 17, 2010
Graph of the Day for August 17, 2010
"As we have previously reported, our long-term simulations also show that absent policy changes, the federal government faces an unsustainable growth in debt... Recent events have further exacerbated fiscal challenges for all levels of government.... Actions to address the nation's long-term fiscal outlook will be needed at all government levels in coming years and the challenges cannot simply be shifted from one level of government to another." The GAO, July 2010.
"And that's why a significant part of the economic plan that we passed last year provided relief for struggling states -- relief that has already prevented hundreds of thousands of layoffs." President Obama, August 10, 2010.
Hoven's Index for August 17, 2010
Year in which federal debt could exceed 100% of GDP: 2019
Year in which federal debt could reach 200% of GDP: 2032
Years in which Social Security will run temporary cash deficits: next 4
Year in which Social Security will start running persistent cash deficits: 2016
Average annual growth rate (1977-2007), above inflation, in state and local government spending: 4.0%
Source: GAO.
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