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As policymakers consider how best to address our looming fiscal challenges, there is a growing debate about whether the U.S. can reduce defense spending without jeopardizing its national security.
At a press conference at the Newseum, Coalition Chairman Admiral Michael Mullen and Coalition members Senator Sam Nunn, Senator John Warner, and Representative Ike Skelton announced the Coalition's core principles for sound fiscal and defense policies that reflect the realities of the 21st century.
As the nation edges closer to the fiscal cliff, a group of distinguished defense, economic and foreign policy leaders today issued an urgent call to address the U.S. fiscal situation, identifying our national debt as "the single greatest threat to our national security."
If all of the proposals in the budget were adopted, government debt would still soar to unsustainable levels in the long run, even under the optimistic assumptions used in the administration’s long-run projections.
Our fiscal goal must be to stabilize the debt as a share of the economy, and put it on a downward path for the longer term.
https://www.pgpf.org/analysis/addressing-our-debt-a-national-security-imperative
Each proposal presents a distinct vision of the role of the federal government in our economy.
https://www.pgpf.org/analysis/fiscal-year-2013-budget-proposals
This outlook is particularly worrisome because the baby boom generation is beginning to retire and will place growing demands on Social Security, Medicare, and Medicaid in the 2020s.
The Congressional Budget Office's latest Budget and Economic Outlook provides sobering new evidence that our nation's fiscal policies are on an unsustainable and uncertain path.
https://www.pgpf.org/analysis/analysis-of-cbo%E2%80%99s-budget-outlook-fiscal-years-2012-2022
Under current spending and tax policies, federal debt would be on a path that climbs to about 200 percent of gross domestic product within 25 years, according to CBO.
The President's Budget for Fiscal Year 2013 projects that the budget deficit will gradually decline under the President's policies from $1,327 billion in 2012 to $704 billion in 2022.
https://www.pgpf.org/analysis/analysis-of-the-president%E2%80%99s-fiscal-year-2013-budget