Until COVID-19 Is Under Control, Economic Damage Will Linger, Experts Say
A pair of top policy experts offer insights into the economy, the effectiveness of relief legislation, and what it all means for the election and beyond.
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A pair of top policy experts offer insights into the economy, the effectiveness of relief legislation, and what it all means for the election and beyond.
The IMF raises concerns that progress on important fiscal issues is being hampered by political dysfunction in Washington.
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for July 2020.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-july-2020
Waiting to act raises the cost of stabilizing the debt.
The United States, by far, spends the greatest amount on military (in nominal terms) than any other country.
https://www.pgpf.org/analysis/why-defense-matters-for-deficit-reduction
“As the bill moves through the process, there is no shortage of options to fully pay for these new programs using credible offsets and realistic assumptions," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
In the early days of a new administration and Congress, voters have increased expectations for elected leaders to take action on our national debt, and remain deeply concerned about our fiscal outlook.
https://www.pgpf.org/press-release/2017/01/fci-press-release
“It is encouraging that leaders in the U.S. Senate have reached an historic bipartisan agreement to invest in national infrastructure," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
America faces a growing crisis. Our federal government has accumulated a $13.6 trillion debt over the last few decades, and this debt is expected to grow significantly in coming years.
“This record level of voter concern about our national debt reinforces the urgent need for fiscal responsibility and should encourage lawmakers to fulfill their promise to fully fund new programs,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2021/10/fci-press-release