Budget Basics: The Challenge
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.
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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.
“Lawmakers should absolutely take a second look at tax policy, not to extend the irresponsibility, but to implement reforms that actually improve our fiscal situation," said Michael A. Peterson, Chairman and CEO of the Peter G. Peterson Foundation.
“This month’s improvement in the index makes it clear that voters want leaders who will improve America’s fiscal and economic future,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2022/08/fci-press-release
Unless addressed soon, the growing national debt will "seriously jeopardize and undermine the American economy," said former Secretary of Defense Leon Panetta.
There are many critical differences between our two nations, but are there lessons to be learned by US policymakers from the UK predicament?
https://www.pgpf.org/blog/2022/10/does-uk-crisis-hold-fiscal-economic-lessons-for-us-policymakers
“CBO’s report is filled with sobering projections that should be an urgent wakeup call for the Administration and Congress," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
Here are five key takeaways from the first CBO analysis to fully take into account the economic effects of the pandemic and the legislative response to it.
On March 15, 2018 the federal government passed an unfortunate milestone: $21 trillion dollars in gross federal debt.
https://www.pgpf.org/blog/2018/04/the-national-debt-grew-by-1-trillion-in-just-six-months
Fixing the budget requires addressing the root cause of the long-term deficits: escalating Social Security and Medicare shortfalls.
Strengthened automatic fiscal stabilizers would enable fiscal stimulus to arrive in a more predictable and efficient manner.