Statement by Michael A. Peterson, Vice Chairman of The Peter G. Peterson Foundation, on President Obama’s Proposed 2012 Budget
The Peter G. Peterson Foundation releases a statement on President Obama's proposed 2012 budget.
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The Peter G. Peterson Foundation releases a statement on President Obama's proposed 2012 budget.
"Reaching $20 trillion in debt should be a wake-up call to solve our fiscal challenges, not an invitation to add to the problem," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
Michael A. Peterson, President & COO of PGPF, commented today as the Congressional Budget Office released its Budget and Economic Outlook for fiscal years 2015-2025.
Learn more about the Peter G. Peterson Foundation in our 2012-2014 Progress Report, which highlights our work over the past three years.
If all of the proposals in the budget were adopted, government debt would still soar to unsustainable levels in the long run, even under the optimistic assumptions used in the administration’s long-run projections.
The Congressional Budget Office released its 2015 Long-Term Fiscal Outlook, which projects that by 2040, federal debt will climb to over 100 percent of GDP under current law and could reach 175 percent of GDP under less optimistic assumptions.
Michael A. Peterson releases a statement on President Barack Obama's budget.
“As the national debt races toward $34 trillion, policymakers remain mired in short-term budget battles that do nothing to improve our fiscal outlook,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2023/11/fci-press-release