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The economy goes through cyclical movements over time, with periods of growth followed by downturns. To help improve responsiveness to fluctuations in the business cycle, a number of important programs in the federal budget automatically increase or restrain spending depending on economic conditions.
https://www.pgpf.org/budget-basics/what-are-automatic-stabilizers-and-how-do-they-affect-the-budget
“Voters are clearly concerned about the growing national debt, and are calling for answers from the candidates at the September 10 presidential debate,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2024/08/fci-press-release
As a large portion of the American population lives well beyond retirement age, the total cost of providing healthcare will grow as well.
https://www.pgpf.org/blog/2024/05/how-does-the-aging-of-the-population-affect-our-fiscal-health
Voters are calling on their leaders to take concrete actions to put us on a better fiscal path.
Michael A. Peterson, President and COO of the Peter G. Peterson Foundation, commented today following the release of budget results for fiscal year 2014 by Treasury Secretary Jacob Lew and Office of Management and Budget Director Shaun Donovan.
"Committee passage of the Fiscal Commission Act is an important step toward a comprehensive approach to stabilizing our rapidly growing national debt," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
Federal debt is already at its highest level since 1950 and is projected to climb to 152 percent of GDP under current law by 2048 — by far an all-time high.
https://www.pgpf.org/blog/2018/06/four-key-takeaways-from-the-cbo-2018-long-term-outlook
The Peter G. Peterson Foundation’s 2011 Fiscal Summit featured results from the Foundation’s Solutions Initiative and sparked ongoing conversations between thought leaders and policymakers about bipartisan solutions to our nation’s long-term fiscal challenge.
Solutions to the fiscal challenge must be long-term, bipartisan budget solutions that can be implemented gradually. Discover some of the comprehensive plans proposed, as well as policy options for individual parts of the budget that merit consideration.
This year’s report demonstrates why lawmakers should focus their attention toward improving our nation’s debt path as soon as possible.
https://www.pgpf.org/blog/2019/07/why-the-2019-long-term-budget-outlook-is-more-bad-news