Happy Fiscal New Year?
For the third year in a row, Congress did not adopt a budget resolution.
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For the third year in a row, Congress did not adopt a budget resolution.
“This new CBO report shows just how much more dangerous the future looks if these tax cuts and spending increases are allowed to continue," said Michael A. Peterson, Chairman and CEO of the Peter G. Peterson Foundation.
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.
Washington Post Congressional Reporter Erica Werner led engaging conversations with policy leaders centered on the fiscal and economic effects of recent tax and spending legislation and what’s required for a fiscal reset that can put our nation on a more sustainable course.
"The rise in the cost of servicing the debt is the significant challenge . . . threatening to crowd out federal spending priorities," writes Dana M. Peterson and Lori Esposito Murray.
https://www.pgpf.org/expert-views/fiscal-commission/the-debt-crisis-is-here
"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.
The coronavirus (COVID-19) pandemic is an unprecedented national emergency requiring a significant federal response. This page provides resources and analysis, tracking the actions our leaders are taking to respond, and providing insights on the state of America’s fiscal and economic outlook during the recovery.
Following the recent government shutdown and debt ceiling standoff, and as the Budget Conference Committee gathers, a new poll released today finds that a majority of voters in both parties are willing to give ground on key issues in order to achieve a much desired, long-term fiscal solution.
This panel convened voices from the private sector and academia to analyze the risk that high and rising debt poses to our economic future.
“The national debt is already $34 trillion, but as it grows over the next three decades, we’ll spend more than double that on interest alone,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2024/03/fci-press-release