Statement on CBO’s Updated Budget and Economic Outlook
"Today’s CBO report confirms that the era of declining deficits is over," according to Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
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"Today’s CBO report confirms that the era of declining deficits is over," according to Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
“Today’s CBO report may not be a surprise, but it should be alarming for all of us," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
Today, the Congressional Budget Office released its Update to the Budget and Economic Outlook: 2015-2025, which projects that federal debt will rise to 77 percent of GDP in 2025, a historically high level of debt that threatens economic growth over the long term.
There are a number of key fiscal issues not only facing the current Congress in coming weeks, but also awaiting the new Congress.
Highlighting state-level efforts to solve structural deficit problems. While most discussions on America's fiscal policy focus on the federal level, state governments also face daunting budget challenges.
https://www.pgpf.org/pgpf-programs-and-projects/state-fiscal-leaders
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
Discover why our fiscal health and economic strength are so closely tied, and why it is important to get the deficit under control and work toward a balanced budget.
“The vast majority of Americans across party lines, including younger voters, are calling on the President and Congress to take action on our national debt,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2019/02/fci-press-release
In around six years, the national debt will likely exceed its all-time high of 106 percent of gross domestic product (GDP), which occurred in 1946.
The greatest gift today’s leaders can give to future generations is the fiscal room to solve their own problems.