CBO's 2012 Long-Term Budget Outlook Analysis
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.
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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.
“By any measure, the state of the Union’s fiscal outlook is unsustainable, and getting worse,” said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
The Peterson Foundation’s 2012 Fiscal Summit–America's Case For Action convenes the nation's leading fiscal policy experts and elected officials at a critical moment of opportunity to make progress on America's long-term fiscal challenges.
“In the short term, nothing is more important to our economy and our health than defeating this virus, but Americans understand that we will need to return our attention to the nation’s fiscal health once the crisis has passed,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2020/08/fci-press-release
The Peter G. Peterson Foundation is sponsoring "Fiscal Thursday" at both the Republican and Democratic National Conventions in partnership with Bloomberg LP.
https://www.pgpf.org/event/2012-conventions-fiscal-thursday-at-dnc
Tax expenditures are often "spending in disguise" because they are used by Congress to direct resources to specific constituencies and priorities — much like spending programs.
https://www.pgpf.org/analysis/the-debate-over-tax-expenditures
This fall, PGPF research staff will publish a series of one-page articles, providing objective analyses on major government programs and policies.
Under current law, federal debt is now projected to reach 150 percent of GDP within 30 years — by far an all-time high.
Health expenditures of state and local governments are projected to crowd out non-health spending.