Statement on CBO’s Updated Budget and Economic Outlook
"Today’s CBO report confirms that the era of declining deficits is over," according to Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
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"Today’s CBO report confirms that the era of declining deficits is over," according to Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
"CBO makes clear that America’s fiscal outlook over the long term remains unsustainable and threatens our economy."
Failing to address the fiscal imbalance imposes burdens on future generations that many would consider unfair.
“Today’s CBO report may not be a surprise, but it should be alarming for all of us," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
The outlook for the federal budget has worsened considerably since last year.
https://www.pgpf.org/blog/2016/01/three-takeaways-from-cbos-budget-and-economic-outlook
The rising cost of drugs has significant implications not only for Americans who rely on medications, but also for our nation's budget and fiscal outlook.
CBO projects that federal debt will remain at historically high levels over the next decade under current laws and warns that such high levels of debt could harm the economy.
https://www.pgpf.org/analysis/cbo-warns-fiscal-path-is-unsustainable-and-threatens-economic-growth
The nonpartisan Congressional Budget Office projects that the federal debt could reach 175% of GDP by 2040.
https://www.pgpf.org/analysis/congressional-budget-offices-2015-long-term-budget-outlook
"It is easy to look at the state of American politics and feel despair. Instead, we should be motivated to solve big problems," writes Robert Portman
This is the moment to strengthen the social insurance system and to enact an ambitious federal investment package, while raising tax revenue and cutting back on spending in ways that would largely offset those costs.