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    Making changes to defense, health care and Social Security will help us reduce our debt, and also leave money to fund other critical responsibilities and invest in our future. But even though other spending programs (including agriculture, transportation, homeland security, education, unemployment benefits, national parks, international relations, and the operations of government) are occupying smaller and smaller portions of the federal budget, there are still opportunities to save money.


    Media Kit

    The Peter G. Peterson Foundation is a non-partisan, non-profit organization dedicated to addressing America’s long-term fiscal challenges to ensure a better economic future. Our mission is to increase public awareness of the nature and urgency of key fiscal challenges threatening America’s future and to accelerate action on them.


    Long-Term Implications of the Budget Control Act of 2011

    This summer, the Congress passed and the president signed the Budget Control Act of 2011 (BCA) that put in place a process for reducing the deficit. The BCA imposed caps on future discretionary spending and empowered a bipartisan, bicameral committee (the “Supercommittee”) to identify additional deficit reduction by Thanksgiving. 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.


    The Congressional Budget Office’s 2011 Long-Term Budget Outlook

    The Congressional Budget Office (CBO) recently published an update of its long-term outlook for the budget and concluded that the federal budget will continue to face intense pressures from the aging of the population and growth in health care costs.i These pressures will push up spending on Social Security, Medicare and Medicaid. 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. CBO’s views about the long-term outlook have not changed much from last year.


Fiscal Confidence Index

Survey: Modeled after the Consumer Confidence Index, the Fiscal Confidence Index is a monthly national survey that measures public opinion about the national debt.

The Tax Reform Opportunity

Video: Our tax code is complex, unfair, and insufficient. Learn more about the opportunity we have to reform and improve tax policy.