GAO: The Federal Government’s Long-Term Fiscal Outlook Fall 2010 Update
Under the GAO’s most realistic fiscal scenario, debt held by the public will exceed 109 percent of GDP by 2020.
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Under the GAO’s most realistic fiscal scenario, debt held by the public will exceed 109 percent of GDP by 2020.
Discover why our fiscal health and economic strength are so closely tied, and why it is important to get the deficit under control and work toward a balanced budget.
Michael A. Peterson, President & COO of PGPF, commented today as the Congressional Budget Office released its Budget and Economic Outlook for fiscal years 2015-2025.
Michael A. Peterson releases a statement on Congressional Budget Office outlook projections.
Interest costs are on track to become the largest category of spending in the federal budget.
https://www.pgpf.org/budget-basics/what-are-interest-costs-on-the-national-debt
“America’s fiscal outlook is more dangerous and daunting than ever, threatening our economy and the next generation."
“As the 2024 campaign heats up, voters are calling on candidates to show leadership by backing a fiscal commission to address our unsustainable national debt,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2024/01/fci-press-release
The updated 2010 projection is a slight improvement over CBO ‘s March estimate primarily as a result of higher than expected corporate revenues and receipts from the Federal Reserve.
https://www.pgpf.org/analysis/cbo%E2%80%99s-august-2010-budget-outlook
The more important question for fiscal policy is what happens when monetary policy normalizes.
Portman, Panetta, Heitkamp, Zandi and others call for bipartisan fiscal commission, outlining spending and revenue reforms to stabilize the debt.