Statement from Foundation President, Michael A. Peterson, on CBO's Long-Term Budget Outlook
Foundation President Michael A. Peterson releases a statement on CBO's long-term budget outlook.
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Foundation President Michael A. Peterson releases a statement on CBO's long-term budget outlook.
As policymakers consider how best to address our looming fiscal challenges, there is a growing debate about whether the U.S. can reduce defense spending without jeopardizing its national security.
The Social Security Trustees's 2011 financial report warns that Social Security is in a weakened financial position in the short run and in an unsustainable condition in the long run.
https://www.pgpf.org/analysis/financial-condition-of-social-security
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.
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
2012 Fiscal Summit Briefing Book: Fiscal Events, Facts, and Charts
https://www.pgpf.org/event/2012-fiscal-summit-briefing-book-fiscal-events-facts-and-charts
“No review of the state of our union is complete without acknowledging our nation’s high and rising debt," Michael A. Peterson, CEO of the Peter G. Peterson Foundation, said.
Putting our economy on a path to recovery continue to be the most pressing priorities for our nation. At the same time, our fiscal outlook has worsened considerably.
The federal government is slated to borrow about $1.5 trillion this year, and that number is projected to nearly double over the next decade.