Issues in Brief: PGPF Research
This fall, PGPF research staff will publish a series of one-page articles, providing objective analyses on major government programs and policies.
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This fall, PGPF research staff will publish a series of one-page articles, providing objective analyses on major government programs and policies.
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.
Even party extremes want bipartisan progress: 93% of Liberal Democrats and 85% of Tea Party supporters strongly agree that both parties should work together to solve our long-term fiscal and economic problems.
67% of registered voters strongly agree that "I am willing to do my part to reduce the national debt, as long as other people also do their part."
Under current law, federal debt is now projected to reach 150 percent of GDP within 30 years — by far an all-time high.
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.
National debt could climb from 74% of GDP in 2014 to 166% of GDP in 2039.
https://www.pgpf.org/analysis/gao-sends-clear-warning-long-term-debt-is-on-an-unsustainable-path
Policymakers should build on this foundation of bipartisanship to begin the significant further reforms that are necessary to put our nation on a sustainable fiscal path.
“No review of the state of our union is complete without acknowledging our nation’s high and rising debt," Michael A. Peterson, CEO of the Peter G. Peterson Foundation, said.
The latest report from the nonpartisan Congressional Budget Office (CBO) reiterates that the federal budget is on an unsustainable trajectory.
The Senior Director will engage with a range of research organizations from across the ideological spectrum to initiate new ideas, refine existing ones, and promote the combination of those most likely to address America’s long-term fiscal challenges.
https://www.pgpf.org/about/careers/senior-director-fiscal-policy