Peterson Foundation Statement on Skyrocketing Interest Costs in New CBO Report
“Interest costs are skyrocketing to record levels, damaging our nation’s budget, economy and future," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
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“Interest costs are skyrocketing to record levels, damaging our nation’s budget, economy and future," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
With the national debt surpassing $31 trillion, the next generation of American leaders is making its voice heard.
“With interest on the debt rising to more than $1 billion a day, voters know our fiscal condition is simply not sustainable,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2023/02/fci-press-release
The Peterson Foundation’s Expert Views essay series convenes leading voices to offer ideas, insights and analysis surrounding our most pressing fiscal and economic challenges.
"If today’s policymakers are serious about addressing a legacy of growing debt and deficits, they should come together to address long-term health care cost growth," writes Lanhee J. Chen, Ph.D.
"No party, or even individual member, has bragging rights when it comes to advocating for, or making progress on, reducing the deficit and debt," writes Heidi Heitkamp.
Gridlock "means ever rising debt as a share of GDP, the prospect of economic turmoil, and lower living standards than otherwise for our children and grandchildren," writes G. William Hoagland.
"The purpose of electing people to public office is to govern — to make the tough choices, to take the risks, to resolve differences and to enact policies that strengthen the nation," writes Leon E. Panetta.
"Even as both parties dream of sweeping the next election and imposing their own solution, the reality is that massive deficit reduction legislation requires bipartisan buy-in for public legitimacy and political sustainability," writes Brian Riedl.
"Sound fiscal policy can make it easier for the Fed to bring inflation down without pushing the economy into a recession," writes Ben Ritz.