Solutions Initiative III: Projected Federal Debt Through 2040
PGPF Solutions Initiative III plans from five think tanks show declining federal debt through 2039.
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PGPF Solutions Initiative III plans from five think tanks show declining federal debt through 2039.
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.
The economic turbulence in the United Kingdom demonstrates that fiscal responsibility is increasingly important in an era of high inflation and rising interest rates.
Brian Riedl, a senior fellow at the Manhattan Institute, details the three key ingredients for negotiating a deficit-reducing budget deal.
Americans and the economy are vulnerable to a series of high-stakes fiscal deadlines, with an uncertain path forward.
https://www.pgpf.org/blog/2019/07/fast-approaching-fiscal-deadlines-pose-threat-to-american-economy
All three budget plans achieve deficit reduction within the 10-year window relative to current law, though they make different choices on revenues and spending levels for particular programs and achieve different results.
“Rather than engaging in partisan battles and fiscal brinksmanship, voters want their leaders to work together on real solutions to our national debt,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2023/09/fci-press-release
“Rising interest rates mean rising interest costs, and Americans understand that’s a major problem for a country that’s $30 trillion in debt,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2022/03/fci-press-release
A divided government means there is both a requirement and a valuable opportunity for lawmakers to work together on fiscal solutions.
Our high and rising debt is “a big burden placed on current citizens, based on our past budgetary irresponsibility,” said Michael Peterson, CEO of the Peter G. Peterson Foundation, in a recent appearance on C-SPAN’s Washington Journal.