Budget Basics: Spending Primer
The U.S. spent $187 billion on interest payments alone in 2009.
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The U.S. spent $187 billion on interest payments alone in 2009.
A statement about the National Commission on fiscal responsibility and reform.
https://www.pgpf.org/press-release/2010/07/national-commission-on-fiscal-responsibility-and-reform
The Peterson-Pew Commission on Budget Reform's second report, Getting Back in the Black, offers a detailed set of options to reform the federal budget process.
https://www.pgpf.org/what-we-are-doing/grants/peterson-pew-commission-report
America faces a growing crisis. Our federal government has accumulated a $13.6 trillion debt over the last few decades, and this debt is expected to grow significantly in coming years.
Once we have a plan in place that reduces spending and increases revenues, a strong annual budget process for the government would help us stay on track.
https://www.pgpf.org/budget-basics/fixing-the-budget-process
The Peter G. Peterson Foundation releases a statement on the completion of fiscal commission appointments.
The Co-Chairs of the President’s National Commission on Fiscal Responsibility and Reform, Erskine Bowles and Alan Simpson, released a draft of their recommendations for deficit reduction and debt stabilization.
https://www.pgpf.org/press-release/national-commission-on-fiscal-responsibility-and-reform
Making changes to defense, health care and Social Security will help us reduce our debt, and also leave money to fund other critical responsibilities and invest in our future.
https://www.pgpf.org/budget-basics/the-other-20-of-federal-spending
Highest ranking economic officials from both parties foresee another U.S. economic crisis within 10 years unless the country takes immediate action on structural deficit.
While the recession has technically ended, our economy is still suffering and far from completely recovered.