Statement on CBO's Long-Term Fiscal Outlook
Michael A. Peterson, President and COO of the Peter G. Peterson Foundation, commented today following the release of the Congressional Budget Office's Long-Term Fiscal Outlook for 2014.
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Michael A. Peterson, President and COO of the Peter G. Peterson Foundation, commented today following the release of the Congressional Budget Office's Long-Term Fiscal Outlook for 2014.
The country’s fiscal trajectory got notably worse over the past year.
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.
Significant majorities of voters across party lines agree that a commission would strengthen Social Security, lower borrowing costs, and improve our economic outlook.
In 2017, Congress and the President enacted the Tax Cuts and Jobs Act (TCJA), which made significant changes to the tax code for individuals and corporations.
https://www.pgpf.org/blog/2024/03/the-next-fiscal-cliff-big-tax-decisions-to-make-in-2025
“Voters across party lines want fiscal leadership from their elected officials, in order to better manage the national debt and put America on a stronger economic course for the future,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2019/08/fci-press-release
“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
"When the dominoes of our national debt fall, young Americans will be the ones left to pick up the pieces," writes Heidi Heitkamp.
Earmarks have been controversial, but nevertheless were reinstated by Congress in 2021 after a 10-year moratorium.
“America’s fiscal outlook is more dangerous and daunting than ever, threatening our economy and the next generation."