Responsible Fiscal Policy in a Low Interest Rate World
The first important determinant of a country’s fiscal health is its financing costs.
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The first important determinant of a country’s fiscal health is its financing costs.
The Peter G. Peterson Foundation’s May Fiscal Confidence Index shows that Americans remain highly concerned about the country’s fiscal situation.
https://www.pgpf.org/press-release/2014/05/fci-press-release
“America’s high and rising national debt threatens our economy, and must be included in the policy conversation this year," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
https://www.pgpf.org/press-release/2017/03/statement-on-cbos-2017-long-term-budget-outlook
“Our high and rising national debt is a pressing issue for the future of the nation, and the August recess presents an opportunity for a conversation between lawmakers and constituents about solutions,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2023/07/fci-press-release
The Peter G. Peterson Foundation leverages its unique role as an effective convener of individuals, organizations and ideas. In bringing together America's most respected voices from across the ideological spectrum, the Foundation demonstrates that good solutions not only exist, but they also can gain broad support.
The nonpartisan CBO projects that the federal debt would reach 183% of GDP within 25 years.
https://www.pgpf.org/analysis/congressional-budget-offices-2014-long-term-budget-outlook
Today, the Congressional Budget Office released its Update to the Budget and Economic Outlook: 2015-2025, which projects that federal debt will rise to 77 percent of GDP in 2025, a historically high level of debt that threatens economic growth over the long term.
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for April 2024.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-april-2024
With a divided government, an opportunity exists for lawmakers to seek and find common ground on the nation’s pressing fiscal and economic challenges.