Analysis of GAO Update To Federal Government’s Long-Term Fiscal Outlook
Relative to the GAO’s last update of their long-term simulation, the nation’s fiscal condition has deteriorated.
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Relative to the GAO’s last update of their long-term simulation, the nation’s fiscal condition has deteriorated.
Over the next 10 years, the spending caps are projected to reduce deficits by approximately $900 billion, and the Supercommittee is charged with finding $1.5 trillion of additional savings.
https://www.pgpf.org/analysis/long-term-implications-of-the-budget-control-act-of-2011
If taxes are not increased or spending is not cut, CBO projects that interest costs will climb and federal debt will grow to levels that will damage our economy.
Peter G. Peterson Foundation writes an op-ed about debt solutions for POLITICO.
https://www.pgpf.org/press-release/2011/11/op-ed-real-debt-solution-must-go-long
Over the next several weeks, as the President and Congress confront the "fiscal cliff," they will have a big opportunity to make the right choice.
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.
The Peter G. Peterson Foundation issues a statement on President Obama's speech on the nation's long-term debt.
According to CBO, the fiscal condition of the United States has deteriorated since its last report issued in August.
https://www.pgpf.org/analysis/cbo%E2%80%99s-latest-budget-projections-a-deteriorating-fiscal-outlook
The latest report by the CBO on the outlook for the U.S. budget and economy highlights the costs of the ongoing weakness in our economy and uncertain direction of our nation’s fiscal policies.
https://www.pgpf.org/analysis/summary-of-cbo-update-on-budget-and-economic-outlook
The end of the supercommittee doesn’t mean the end of the fiscal policy debate in Washington.