• Issues Fiscal Outlook 2011 12 120511 After Supercommitteex

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    After the Supercommittee, Fiscal Policy Questions Still Have to be...

    The end of the supercommittee doesn’t mean the end of the fiscal policy debate in Washington. There are still many tax and spending issues that Congress has to decide on this month, next year, and beyond. And while each individual decision may not carry a $1.2 trillion price tag, when added together they’ll have a major impact on the long-term budget picture.


    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 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."


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.