CBO Warns: Fiscal Outlook Remains Unsustainable
Under current law, federal debt is now projected to reach 150 percent of GDP within 30 years — by far an all-time high.
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Under current law, federal debt is now projected to reach 150 percent of GDP within 30 years — by far an all-time high.
“This new CBO report shows just how much more dangerous the future looks if these tax cuts and spending increases are allowed to continue," said Michael A. Peterson, Chairman and CEO of the Peter G. Peterson Foundation.
“As Washington navigates short-term budget battles, our long-term fiscal outlook keeps getting more and more dangerous," said Michael A. Peterson.
This fall, PGPF research staff will publish a series of one-page articles, providing objective analyses on major government programs and policies.
A strong fiscal outlook is an essential foundation for a growing, thriving economy – but our current debt-to-GDP ratio is the highest it has been since 1950.
https://www.pgpf.org/infographic/infographic-the-fiscal-state-of-play
"As lawmakers debate significant reforms, our growing deficits should be a factor in every policy conversation," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
"A fiscal commission will not obviate lawmakers’ responsibility to make hard choices, but it will make those choices easier to understand and explain to voters," writes Mark Zandi
https://www.pgpf.org/expert-views/fiscal-commission/a-way-to-brighten-americas-dark-fiscal-outlook
The updated 2010 projection is a slight improvement over CBO ‘s March estimate primarily as a result of higher than expected corporate revenues and receipts from the Federal Reserve.
https://www.pgpf.org/analysis/cbo%E2%80%99s-august-2010-budget-outlook
Michael A. Peterson, President & COO of PGPF, commented today as the Congressional Budget Office released its Budget and Economic Outlook for fiscal years 2015-2025.
“As we continue to face significant economic turbulence and uncertainty, fiscal confidence is near a record low, because voters know that our growing national debt makes it more difficult to build a strong and stable future,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2022/04/fci-press-release