Costs of Delaying Fiscal Reform
Waiting to act raises the cost of stabilizing the debt.
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Waiting to act raises the cost of stabilizing the debt.
Despite a growing economy and low unemployment, federal budget deficits are projected to grow over the next 10 years.
https://www.pgpf.org/blog/2019/01/five-charts-that-summarize-cbos-budget-and-economic-outlook
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.
Policymakers should build on this foundation of bipartisanship to begin the significant further reforms that are necessary to put our nation on a sustainable fiscal path.
A strong and stable economy with sustained job creation and broadly-shared growth ultimately requires a foundation of fiscal responsibility.
https://www.pgpf.org/pgpf-programs-and-projects/fiscal-balancing-act
CBO projects that federal debt will climb to 141 percent of GDP within 30 years — exceeding the highest level of debt ever recorded at the end of World War II by a large margin.
“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
The Peter G. Peterson Foundation releases a statement on President Obama's proposed 2012 budget.
A strong fiscal outlook is an essential foundation for a thriving economy. Putting our nation on a sustainable fiscal path creates a positive environment for growth, opportunity and prosperity.
https://www.pgpf.org/the-fiscal-and-economic-challenge/fiscal-and-economic-impact
Take our quiz to see how much you really know about how revenues are collected and federal funds are spent.
https://www.pgpf.org/quiz/how-much-do-you-know-about-the-federal-budget