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.
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.
With the national debt at $26 trillion and counting, the nation’s fiscal health is a key issue for the 2020 campaign.
The coronavirus (COVID-19) pandemic is an unprecedented national emergency requiring a significant federal response. This page provides resources and analysis, tracking the actions our leaders are taking to respond, and providing insights on the state of America’s fiscal and economic outlook during the recovery.
As chairman and chief executive officer of the Peter G. Peterson Foundation, Michael Peterson oversees the strategic direction of the Foundation, guiding policy and shaping strategy for its major initiatives, key partnerships, and long-term objectives.
Tax reform done right would promote economic growth, make our fiscal outlook more sustainable, reduce the complexity and burden of compliance, and increase the system’s transparency and fairness.
The Peter G. Peterson Foundation Economic Forum brings together thought leaders shaping the future of our nation for in-depth conversations on America’s most pressing issues.
https://www.pgpf.org/what-we-are-doing/events/economic-forum
The economy goes through cyclical movements over time, with periods of growth followed by downturns. To help improve responsiveness to fluctuations in the business cycle, a number of important programs in the federal budget automatically increase or restrain spending depending on economic conditions.
https://www.pgpf.org/budget-basics/what-are-automatic-stabilizers-and-how-do-they-affect-the-budget
Earmarks have been controversial, but nevertheless were reinstated by Congress in 2021 after a 10-year moratorium.
Policymakers use the federal budget process to establish spending priorities and to determine who will pay for those activities.
https://www.pgpf.org/finding-solutions/understanding-the-budget/budget-process