• Issues Fiscal Outlook 2011 08 08082011 NewChanceToGetBudgetRightx

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    The Congressional Budget Office’s 2011 Long-Term Budget Outlook

    The Congressional Budget Office (CBO) recently published an update of its long-term outlook for the budget and concluded that the federal budget will continue to face intense pressures from the aging of the population and growth in health care costs.i These pressures will push up spending on Social Security, Medicare and Medicaid. If taxes are not increased or spending is not cut, CBO projects that interest costs will climb and federal debt will grow to levels that will damage our economy. CBO’s views about the long-term outlook have not changed much from last year.


    Voters Want Bipartisan Action on Fiscal Issues and are Willing...

    Even party extremes want bipartisan progress: 93% of Liberal Democrats and 85% of Tea Party supporters strongly agree that both parties should work together to solve our long-term fiscal and economic problems.

    67% of registered voters strongly agree that "I am willing to do my part to reduce the national debt, as long as other people also do their part."


    Long-Term Implications of the Budget Control Act of 2011

    This summer, the Congress passed and the president signed the Budget Control Act of 2011 (BCA) that put in place a process for reducing the deficit. The BCA imposed caps on future discretionary spending and empowered a bipartisan, bicameral committee (the “Supercommittee”) to identify additional deficit reduction by Thanksgiving. Over the next 10 years, the spending caps are projected to reduce deficits by approximately $900 billion, and the Supercommittee is charged with finding $1.5 trillion of additional savings.


    Peter G. Peterson Foundation Grant Spotlight: 2011 Fiscal Internship Program

    In the summer of 2010, the Peter G. Peterson Foundation established its inaugural Fiscal Internship program in Washington DC, with the goal of supporting the development of young talent in the fiscal policy world. The program pairs college and graduate students interested in the nation’s economic future with public policy organizations working on fiscal issues.


    The Peter G. Peterson Foundation Progress Report: 2008-2011

    Since its establishment in 2008, the Peter G. Peterson Foundation has been dedicated to advancing solutions to our nation’s long-term fiscal challenges. The Foundation is motivated by the belief that America is on an unsustainable path, and that only by changing course can we ensure that our economy remains strong and competitive for future generations.


Fiscal Confidence Index

Survey: Modeled after the Consumer Confidence Index, the Fiscal Confidence Index is a monthly national survey that measures public opinion about the national debt.

The Tax Reform Opportunity

Video: Our tax code is complex, unfair, and insufficient. Learn more about the opportunity we have to reform and improve tax policy.