Statement on the 2015 State of the Union Address
Michael A. Peterson, President and COO of the Peter G. Peterson Foundation, commented this evening on the President’s annual State of the Union address.
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Michael A. Peterson, President and COO of the Peter G. Peterson Foundation, commented this evening on the President’s annual State of the Union address.
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 Peterson Foundation cited new projections which demonstrate that $1.2 trillion in deficit reduction that fails to address the fundamental drivers of our growing debt will not stabilize the level of debt relative to the economy, which is the real test of any long-term fiscal plan.
As part of the second year of the Up to Us initiative, student teams from 24 colleges and universities are launching innovative, creative and thought-provoking campus campaigns focused on fiscal issues.
With important fiscal deadlines looming in coming weeks, the nation’s fiscal outlook remains a top concern for American voters.
https://www.pgpf.org/press-release/2015/10/fci-press-release
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
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
2013 Fall Fiscal Agenda: A Critical Time for Action; 4 upcoming milestones
The August 2015 Fiscal Confidence Index value is 44.
https://www.pgpf.org/press-release/2015/08/fci-press-release
Pete Peterson Joins President Clinton and Others to Discuss Jobs, the Economy and America’s Long-Term Fiscal Challenges.