The Congressional Budget Office’s 2011 Long-Term Budget Outlook
If taxes are not increased or spending is not cut, CBO projects that interest costs will climb and federal debt will grow to levels that will damage our economy.
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If taxes are not increased or spending is not cut, CBO projects that interest costs will climb and federal debt will grow to levels that will damage our economy.
Michael A. Peterson, President and COO of the Peter G. Peterson Foundation, released the following statement as the Congressional Budget Office released its Budget and Economic Outlook for 2014-2024.
The U.S. spent $187 billion on interest payments alone in 2009.
The Congressional Budget Office’s new long-term projections show that the federal budget is on an unsustainable path.
https://www.pgpf.org/analysis/cbo-2013-long-term-budget-outlook-analysis
Michael A. Peterson, President & COO of PGPF, commented today as the Congressional Budget Office released its Budget and Economic Outlook for fiscal years 2015-2025.
The poverty rate in 2009 was 14.3 percent, up from 13.2 percent in 2008. This is the highest rate since 1994.
https://www.pgpf.org/analysis/census-bureau-report-on-poverty-and-health-insurance-coverage
The Peter G. Peterson Foundation’s October Fiscal Confidence Index dropped to its lowest-ever point in October, reflecting increasingly negative public sentiment following the government shutdown and debt ceiling brinksmanship.
https://www.pgpf.org/press-release/2013/10/fci-press-release
The combined Old Age and Survivors’ Insurance and Disability Insurance Trust Funds, commonly referred to as the “Social Security Trust Funds,” will be fully depleted by 2033.
https://www.pgpf.org/analysis/social-security-faces-major-financial-challenges
Through easy-to-understand language and charts, the State of the Union’s Finances explains the enormous fiscal challenges we face, based on the official financial statements of the U.S. government.
https://www.pgpf.org/budget-basics/state-of-the-unions-finances
Michael Peterson released a statement today on the CBO's updated budget projections.