Statement on Deal to End Shutdown, Avoid Default
The Peterson Foundation releases a statement on the deal to end the government shutdown.
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The Peterson Foundation releases a statement on the deal to end the government shutdown.
On our current path, CBO projects that deficits will reach $1.0 trillion by 2022 and total $10.1 trillion over the next ten years.
https://www.pgpf.org/analysis/2017/06/cbo-unsustainable-deficits-threaten-future-economic-growth
Michael A. Peterson pens an op-ed about debt goals for the U.S. for POLITICO.
https://www.pgpf.org/press-release/op-ed-a-real-debt-goal-60-percent-by-2030
The report projects that in 2018 — for the first time since 1982 — the program’s total costs will exceed its total income.
“It’s unfortunate that even the Committee’s draft package of modest recommendations failed to advance. Significant work remains to address America’s fiscal challenges and the Committee’s proposals could have been a small step in the right direction to improve our budget process." Michael A. Peterson, CEO of the Peter G. Peterson Foundation, said.
If all of the proposals in the budget were adopted, government debt would still soar to unsustainable levels in the long run, even under the optimistic assumptions used in the administration’s long-run projections.
Controlling our structural budget deficits will require major changes in budget policy.
https://www.pgpf.org/budget-basics/state-of-the-unions-finances/the-elements
Donald Trump entered office with the highest level of debt to GDP of any incoming president since Harry Truman.
https://www.pgpf.org/infographic/infographic-the-national-debt-and-our-economy
The report anticipates that in 2020 — for the first time since 1982 — the program’s total costs will exceed its total income.
All three budget plans achieve deficit reduction within the 10-year window relative to current law, though they make different choices on revenues and spending levels for particular programs and achieve different results.