U.S. GDP to Fall 5.6% Due to Coronavirus, According to New CBO Projections
The new numbers demonstrate the severe economic damage and significant fiscal implications of this unprecedented crisis.
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The new numbers demonstrate the severe economic damage and significant fiscal implications of this unprecedented crisis.
Fiscal policymakers representing the Treasury Department, other federal agencies, think tanks and Congress will face off against college students in the Budgetball Tournament on the National Mall this Sunday from 11:00am to 2:00pm ET. Players will include David Walker, former U.S. Comptroller General, and Robert Reischauer, former Director of the Congressional Budget Office.
https://www.pgpf.org/press-release/administration-and-congressional-teams-get-fiscal
A bipartisan group of highly distinguished and respected leaders in defense, economic and national security policy have united once again to emphasize the fundamental link between America’s long-term fiscal health and our national security.
https://www.pgpf.org/press-release/2016/05/cfns-press-release
Last year, the U.S. deficit of $1.4 trillion or 9.9 percent of gross domestic product, was the largest since the end of World War II.
https://www.pgpf.org/analysis/2009/04/the-us-faces-looming-fiscal-crisis
A divided government means there is both a requirement and a valuable opportunity for lawmakers to work together on fiscal solutions.
“While the pandemic remains the top priority, voters believe that America’s deteriorating fiscal situation is also a key issue for our future,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2020/09/fci-press-release
In light of the growing urgency of the climate crisis, many lawmakers, advocacy groups, and American citizens are calling for the government to undertake policies to more comprehensively address climate change.
https://www.pgpf.org/budget-basics/what-is-a-carbon-tax-how-would-it-affect-the-economy
The Peterson Foundation releases a statement on the fiscally irresponsible "tax extenders" legislation.
Outside of the recent recession caused by the financial crisis and its aftermath, the U.S. government has never witnessed deficits that exceeded $1 trillion.