92% of Voters More Likely to Support Candidates Backing a Fiscal Commission
Significant majorities of voters across party lines agree that a commission would strengthen Social Security, lower borrowing costs, and improve our economic outlook.
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Significant majorities of voters across party lines agree that a commission would strengthen Social Security, lower borrowing costs, and improve our economic outlook.
Here are the top ten spending categories for the federal budget.
https://www.pgpf.org/budget-basics/top-10-largest-budget-functions
The Peter G. Peterson Foundation held its first Fiscal Summit in 2010 to start a national bipartisan dialogue on critical fiscal issues with thought leaders and prominent stakeholders from across the political spectrum.
Convened in November 2012, "Post-Election: The Fiscal Cliff and Beyond" brought together top elected leaders and policy experts to discuss potential paths forward for America.
https://www.pgpf.org/what-we-are-doing/events/the-fiscal-cliff-and-beyond
The country’s fiscal trajectory got notably worse over the past year.
In January 2013, a series of tax increases and spending cuts are slated to go into effect automatically and all at once. Many are calling this major fiscal policy shift the "Fiscal Cliff." If all of the changes are allowed to proceed, future budget deficits would be substantially reduced. However, the nonpartisan Congressional Budget Office has forecast that the economy would be thrown into recession in 2013 — an outcome that threatens our still-fragile economic recovery.
Portman, Panetta, Heitkamp, Zandi and others call for bipartisan fiscal commission, outlining spending and revenue reforms to stabilize the debt.
“This new CBO report shows just how much more dangerous the future looks if these tax cuts and spending increases are allowed to continue," said Michael A. Peterson, Chairman and CEO of the Peter G. Peterson Foundation.
“We need our leaders to rise to the urgency of the moment, but legislative gridlock continues to prevent progress on even the basics of budgeting," said Michael A. Peterson.
https://www.pgpf.org/press-release/2024/03/peterson-foundation-statement-on-presidents-budget
Waiting to act raises the cost of stabilizing the debt.