Recognized as one of the best internet providers. We are just getting started. Building 100,000 miles of new infrastructure to reach those that need it most. Charter communication support cspan as a Public Service along with these other providers giving you a front row seat to democracy. Congressional budget officer releasing the budget and Economic Outlook report for the next 10 years. He talks about gross projections , deficit, tax revenues and the impact of undocumented migration on the u. S. Budget and economy. This is about 40 minutes. Thank you, everyone. Thank you for joining us in person at the congressional budget office. I will talk first about the federal budget and then discuss the economy. The projections we released today 1. 6 million in 2024 to 2. 6 trillion in 2034. Measured in relation to the economic output deficits are about 50 larger than their historical average over the past 50 years. The growth is equal to three quarters of the increase in the deficit from 202420
Providers, giving you a front row seat to democracy. Congressional Budget Office director philip slagle released the Economic Outlook report for the next 10 years and talks about growth projection, the deficit, tax revenues and the impact of undocumented immigration on the economy. This is about 40 minutes. Net interest costs are a major part of the deficit. Initially, net interest costs were similar to the amount of Discretionary Spending for defense and nondefense activities. By the end of the period 1. 6 trillion dollars, interest outlays are roughly 1. 5 times larger than either defense or nondefense spending. Also boosted deficits are two underlying trends, the aging of the population and growth in federal Health Spending per beneficiary. Those trends put upward pressure on mandatory spending. Measured in relation to economic output, federal debt held by the public rises to 99 in 2024 to 116 in 2034. Surpassing its historical peak. Then the debt ratio continues to rise, reaching 1
Cspan is your unfiltered view of government. Were funded by these Television Companies and more. Including comcast. Oh, you think this is just a Community Center . No. Its way more than that. Comcast is partnering with 1,000 Community Centers to create wifienabled areas to students from lowincome families can have the tools they need to be ready for anything. Comcast suppos cspan as a public service, along with these other television pviders. Giving you a front row seat to democracy. Back to join us to tk about issues of debt is maya macguineas, president of the committee for a responsible federal budget. With 10 days left to the supposed deck state, where are you as a result of this issue, if any, will come . Guest i feel confident we are going to resolve this. I have a pit in my stomach. It is the fact we are getting close to the deadline, much closer than we ever should have been. While the drama seems part of what is expected in a negotiation on both sides, they need to prove they
To Work Together for the countries that problem. This hearing is two hours and 15 minutes. [background noises] the hearing will come to order. Todays hearing will examine the need for a fiscal plan. We will hear from former colleagues who have been through these battles and lived to talk about them. Extra special to have my mentor and friend steve who i am now literally serving as chairman and the shadow of his beautiful portrait behind us. And so it is an honor to have you back here in your chamber. Sender rob portman, ambassador portman is from ohio. We are delighted that you are here. He was a member of the bipartisan bicameral Super Committee established by the budget control act of 2011. He also served as director of omb during the Bush Administration which is where i got to know him. He has given a lot of thought to these issues over the years. Ambassador, thank you for your time we welcome you here. What is he . An alumni of the peoples house. That is why we have you here becaus
Answer to the question if they wanted me to continue in that role. I made a different decision. I told the conference that i wish i didnt talk with everyone. I got to talk with members that i didnt know quite well over the last three weeks and we need to come together and figure out who our speaker is going to be and work as hard as i can to help that individual and help the american people. We got several depositions last week in the Judiciary Committee and work we have to do and investigative work. But its important we do unite. Lets figure out who that individual is and get to work for the american peopl [indiscernible chatter] cspan 2024 coverage is front row seat to the president ial election and watch as we toll candidates with meet and greets, spieches and more as you make up your mind, campaign 2024 and online at cspan. Cspan, unfiltered through of view of politics. If you ever missed any of cspans coverage find it at any time any online, videos of key hearings debates and othe