Peterson Foundation Statement on CBO Long-Term Budget Outlook
“As Washington navigates short-term budget battles, our long-term fiscal outlook keeps getting more and more dangerous," said Michael A. Peterson.
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“As Washington navigates short-term budget battles, our long-term fiscal outlook keeps getting more and more dangerous," said Michael A. Peterson.
The Congressional Budget Office released its 2015 Long-Term Fiscal Outlook, which projects that by 2040, federal debt will climb to over 100 percent of GDP under current law and could reach 175 percent of GDP under less optimistic assumptions.
The Peter G. Peterson Foundation issues a statement on President Obama's speech on the nation's long-term debt.
Each year, some of the revenue the federal government collects comes from various taxes. In 2012, taxpayers paid almost $2.5 trillion, which the government used to partially fund $3.5 trillion worth of spending on Social Security, health care, and other programs in areas such as defense and education. The remainder of spending was funded through deficits.
“In the short term, nothing is more important to our economy and our health than defeating this virus, but Americans understand that we will need to return our attention to the nation’s fiscal health once the crisis has passed,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2020/08/fci-press-release
A statement about the National Commission on fiscal responsibility and reform.
https://www.pgpf.org/press-release/2010/07/national-commission-on-fiscal-responsibility-and-reform
Foundation Chairman Peter G. Peterson releases a statement on the President's remarks.
This fall, PGPF research staff will publish a series of one-page articles, providing objective analyses on major government programs and policies.
“Unfortunately, this bill does little to address our long-term fiscal challenges," said Michael A. Peterson.
With the national debt surpassing $31 trillion, the next generation of American leaders is making its voice heard.