Yes, Fiscal Commissions Can Succeed with a Committed Congress
"The single most crucial ingredient in a successful commission is complete buy-in from the leadership of both parties," writes Brian Riedl
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"The single most crucial ingredient in a successful commission is complete buy-in from the leadership of both parties," writes Brian Riedl
The first step in inspiring others is learning how to talk about the nation's long-term fiscal challenges.
Federal debt will rise to 144 percent of GDP within 30 years — far exceeding its all-time high, and nearly doubling today's level.
https://www.pgpf.org/analysis/2019/06/cbo-warns-historic-debt-levels-pose-substantial-risks
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
One of the largest drivers of that rising debt is federal spending on major healthcare programs, such as Medicare and Medicaid.
Putting our economy on a path to recovery continue to be the most pressing priorities for our nation. At the same time, our fiscal outlook has worsened considerably.
A strong fiscal outlook is an essential foundation for a thriving economy. Putting our nation on a sustainable fiscal path creates a positive environment for growth, opportunity and prosperity.
https://www.pgpf.org/the-fiscal-and-economic-challenge/fiscal-and-economic-impact
The lack of a long-term solution for federal funding for transportation creates uncertainty, which is disruptive for the planning of construction projects.
https://www.pgpf.org/budget-basics/more-stop-and-go-financing-of-highway-trust-fund
Recent budget reforms have not significantly improved the nation’s long-term fiscal outlook, according to a report released today by the Peter G. Peterson Foundation.
“This report makes it painfully clear that our unsustainable fiscal challenges have now been accelerated. The sad truth is that our national debt now equals the size of our entire economy,” said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
https://www.pgpf.org/press-release/2020/09/peterson-statement-on-cbo-report