CBO Warns: Fiscal Outlook Remains Unsustainable
Under current law, federal debt is now projected to reach 150 percent of GDP within 30 years — by far an all-time high.
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Under current law, federal debt is now projected to reach 150 percent of GDP within 30 years — by far an all-time high.
With the national debt at $26 trillion and counting, the nation’s fiscal health is a key issue for the 2020 campaign.
In 2008, the Peter G. Peterson Foundation was established with the goal of preserving the American Dream for the next generation. My father saw our high and rising debt as a transcendent threat to our future economy – posing a risk to every American, and our leadership role in the world.
"The rise in the cost of servicing the debt is the significant challenge . . . threatening to crowd out federal spending priorities," writes Dana M. Peterson and Lori Esposito Murray.
https://www.pgpf.org/expert-views/fiscal-commission/the-debt-crisis-is-here
"Too often in recent years, Washington has largely governed by crisis. No area better reflects the pressure of constant crisis than the federal budget," writes Leon E. Panetta
"A fiscal commission is most likely to succeed if the broader public is involved in the process," writes Sita Slavov.
"A fiscal commission will not obviate lawmakers’ responsibility to make hard choices, but it will make those choices easier to understand and explain to voters," writes Mark Zandi
https://www.pgpf.org/expert-views/fiscal-commission/a-way-to-brighten-americas-dark-fiscal-outlook
"The public has to be involved, educated, and understand the consequences of inaction. Legislators will not make difficult decisions unless their constituents see a need and reason to act," writes G. William Hoagland
https://www.pgpf.org/expert-views/fiscal-commission/fiscal-commissions-promises-and-disappointments
"When the dominoes of our national debt fall, young Americans will be the ones left to pick up the pieces," writes Heidi Heitkamp.
"It is easy to look at the state of American politics and feel despair. Instead, we should be motivated to solve big problems," writes Robert Portman