Op-Ed: Real Debt Solution Must 'Go Long'
Peter G. Peterson Foundation writes an op-ed about debt solutions for POLITICO.
https://www.pgpf.org/press-release/2011/11/op-ed-real-debt-solution-must-go-long
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Peter G. Peterson Foundation writes an op-ed about debt solutions for POLITICO.
https://www.pgpf.org/press-release/2011/11/op-ed-real-debt-solution-must-go-long
“As we continue to face significant economic turbulence and uncertainty, fiscal confidence is near a record low, because voters know that our growing national debt makes it more difficult to build a strong and stable future,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2022/04/fci-press-release
The U.S. spent $820 billion on national defense during fiscal year (FY) 2023 according to the Office of Management and Budget, which amounted to 13 percent of federal spending.
https://www.pgpf.org/budget-basics/budget-explainer-national-defense
Under current spending and tax policies, federal debt would be on a path that climbs to about 200 percent of gross domestic product within 25 years, according to CBO.
Gridlock "means ever rising debt as a share of GDP, the prospect of economic turmoil, and lower living standards than otherwise for our children and grandchildren," writes G. William Hoagland.
A strong fiscal outlook is an essential foundation for a growing, thriving economy – but our current debt-to-GDP ratio is the highest it has been since 1950.
https://www.pgpf.org/infographic/infographic-the-fiscal-state-of-play
“As lawmakers rightly continue to pursue policies that help our nation respond to the immediate health and economic crisis, voters are also showing increased concern about our deteriorating fiscal outlook,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2020/07/fci-press-release
This panel convened voices from the private sector and academia to analyze the risk that high and rising debt poses to our economic future.
"The public has to be involved, educated, and understand the consequences of inaction. Legislators will not make difficult decisions unless their constituents see a need and reason to act," writes G. William Hoagland
https://www.pgpf.org/expert-views/fiscal-commission/fiscal-commissions-promises-and-disappointments