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Sailing the Fiscal Ship Updated May 2019

Sailing the Fiscal Ship Updated May 2019.

williambenton
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Sailing the Fiscal Ship Updated May 2019

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  1. Sailing the Fiscal ShipUpdated May 2019 The Fiscal Ship is a product of the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution and the Serious Games Initiative at the Wilson Center. We received grants from the Peter G. Peterson Foundation, the William and Flora Hewlett Foundation, and the Richard Lounsbery Foundation. The funders did not play any role or have any say over the substance of the game. We contracted with 1st Playable Productions of Troy, N.Y., to build the game.

  2. The federal government accounts for about 20% of the economy, fairly stable over time Outlays Revenues

  3. Perception versus Reality

  4. What does the government spend money on?

  5. Challenge going forward: Population aging 36 people 65+ for every 100 people between 18-64 14 people 65+ for every 100 people between 18-64

  6. Challenge going forward: Health spending tends to increase faster than GDP

  7. Under current law, Social Security and health programs will account for almost 70% of all federal spending by 2046

  8. Some reductions in non-entitlement spending and increase in revenues under current law, but still large deficits

  9. Leading to significant budgetary challenges Projected

  10. We made a game Learning goals: • The federal budget is on unsustainable course • The budget is about more than the level of debt • There’s more than one way to put the budget on a sustainable course, but there are trade offs • Small changes to taxes and spending won’t be enough

  11. Play the game! www.fiscalship.org

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