Peterson Foundation Statement on $31 Trillion National Debt Milestone
“As our debt crosses $31 trillion, it’s past time for action," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
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“As our debt crosses $31 trillion, it’s past time for action," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
CBO’s estimate of the cumulative deficit over the next 10 years totals $2.3 trillion more than the Administration had estimated.
The projects, which address problems ranging from mental health to food security to the impact on K-12 education, will receive $643,029 in research support from a new Peterson Foundation fund.
Financing the debt will become more burdensome now that interest rates have returned to their pre-pandemic levels.
The new numbers demonstrate the severe economic damage and significant fiscal implications of this unprecedented crisis.
Putting our nation on a sustainable fiscal path creates a positive environment for growth, opportunity, and prosperity. Unfortunately, America is on a dangerous long-term fiscal path.
https://www.pgpf.org/infographic/infographic-why-long-term-debt-matters
Since its establishment in 1935, Social Security has grown to become the largest program in the federal budget.
https://www.pgpf.org/blog/2023/02/social-security-reform-should-we-reduce-benefits
A new fiscal agenda structured in a prudent way that induces strong economic growth, increases revenues, and protects low- and middle-income Americans is what will bring stability to the long-term budget outlook.
https://www.pgpf.org/expert-views/americas-fiscal-and-economic-outlook/a-path-to-economic-prosperity
As America crosses the unfortunate milestone of $20 trillion in national debt for the first time, voters are increasingly concerned about the fiscal condition of the country.
https://www.pgpf.org/press-release/2017/09/fci-press-release
What will America look like at mid-century? US 2050 will examine and analyze the multiple demographic, socioeconomic, and fiscal trends that will shape the nation in the decades ahead.