CBO’s Budget Outlook Shows Pandemic’s Acceleration of U.S. Fiscal Challenges
The latest budget outlook released by CBO is the first to fully capture the budgetary impact of the pandemic.
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The latest budget outlook released by CBO is the first to fully capture the budgetary impact of the pandemic.
“As the 2024 campaign heats up, voters are calling on candidates to show leadership by backing a fiscal commission to address our unsustainable national debt,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2024/01/fci-press-release
“Today’s CBO report confirms that major damage was done to our fiscal outlook in just the past few months," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
Amid the debate over national priorities, one thing is clear: fiscal sustainability is essential to addressing the needs and ambitions of our society and building a vibrant future for generations to come.
https://www.pgpf.org/what-we-are-doing/fiscal-summit/2019-fiscal-summit/summary-and-highlights
The Peter G. Peterson Foundation’s 2013 Fiscal Summit brought together thought leaders to discuss global economic competitiveness, the potential for innovation in science and technology and domestic issues such as demongraphics, immigration, education, and national security.
https://www.pgpf.org/what-we-are-doing/fiscal-summit/2013-fiscal-summit-facing-the-future
According to the Joint Committee on Taxation, the provisions in this agreement will add $857.8 billion to the deficit by 2020.
https://www.pgpf.org/analysis/2010/12/compromise-tax-framework-agreement
Sequestration is a budget procedure used by lawmakers to cancel or limit funding in order to meet budget goals.
https://www.pgpf.org/budget-basics/budget-basics-what-is-sequestration
A strong and stable economy with sustained job creation and broadly-shared growth ultimately requires a foundation of fiscal responsibility.
https://www.pgpf.org/pgpf-programs-and-projects/fiscal-balancing-act
Significant majorities of voters across party lines agree that a commission would strengthen Social Security, lower borrowing costs, and improve our economic outlook.
In 2017, Congress and the President enacted the Tax Cuts and Jobs Act (TCJA), which made significant changes to the tax code for individuals and corporations.
https://www.pgpf.org/blog/2024/03/the-next-fiscal-cliff-big-tax-decisions-to-make-in-2025