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Statement by PGPF President & COO Michael A. Peterson on the 2015 State of the Union Address
The Congressional Budget Office (CBO) released its latest Budget and Economic Outlook last week. According to CBO, the fiscal condition of the United States has deteriorated since its last report issued in August. Highlights of the new ten-year budget “baseline” include projections of:
NEW YORK — Americans are increasingly concerned about the nation's long-term debt and pessimistic about Washington's ability to make progress in addressing the debt, according to the Peter G. Peterson Foundation's latest Fiscal Confidence Index, a monthly measure of public attitudes about the nation's long-term debt and the efforts elected leaders are making to address the debt.
Dealing with our long-term debt can give a needed boost to the U.S. economy. Americans must task their newly elected officials with tackling the nation's debt — and hold them accountable for results.
Without policy changes, debt held by the public reaches unsustainable levels.
No matter who wins the elections, the choice is between bipartisan progress to solve America's debt problem, or more gridlock and economic decline.
Controlling our structural budget deficits will require major changes in budget policy. Congress and the President will have to make hard decisions about spending as well as taxes. To help better understand those choices, we need to look at the key elements of the budget
The 2011 Federal Budget