With U.S. Interest Costs Skyrocketing, Voters Overwhelmingly Call for Fiscal Commission
Voters are deeply concerned about interest costs eating up more and more of the federal budget.
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Voters are deeply concerned about interest costs eating up more and more of the federal budget.
“Across party lines, overwhelming majorities of voters are deeply concerned about the $33 trillion and growing national debt, and they want their leaders to take action,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2023/10/fci-press-release
Debt held by the public totaled 97 percent of gross domestic product (GDP) at the end of 2022 and is on track to exceed its previous all-time high.
https://www.pgpf.org/blog/2023/10/why-history-shows-the-united-states-will-not-grow-out-of-its-debt
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for September 2023.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-september-2023
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for October 2023.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-october-2023
"The deficit has essentially doubled in just one year. That’s very alarming, but the fact that the deficit grew so much during a time of economic growth is an even more serious warning sign for our nation’s future."
https://www.pgpf.org/press-release/2023/10/peterson-foundation-statement-as-deficit-soars
Governance issues can harm the U.S. economy as well as decrease the country’s standing in financial markets, which has implications for interest costs and the nation’s fiscal sustainability.
https://www.pgpf.org/blog/2023/10/bad-governance-could-be-making-our-debt-problems-worse
“Rather than engaging in partisan battles and fiscal brinksmanship, voters want their leaders to work together on real solutions to our national debt,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2023/09/fci-press-release
Voters are calling on their leaders to take concrete actions to put us on a better fiscal path.
"It’s important that Congress get back to an effective and transparent budgeting process," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.