Statement from Foundation Chairman, Pete Peterson, on House Speaker Boehner’s Comments
“We applaud Speaker Boehner’s statement that congressional Republicans are willing to accept new revenues as part of a comprehensive fiscal plan. We are also pleased that President Obama has reached out to congressional leaders on both sides of the aisle. These are encouraging signs that the President and Congress may be moving toward compromise.
There is widespread agreement across the ideological spectrum about the dangers posed by the fiscal cliff, which looms just 54 days away. Our elected leaders should turn the fiscal cliff into a key moment of opportunity to bring the nation together to solve our long-term fiscal challenges.”
Further Reading
What Is Stagflation, and How Would It Affect the National Debt?
Stagflation is rare, but when it does happen, it can have significant negative consequences for the economy and the national debt.
Budget Basics: Federal Trust Funds
Federal trust funds bear little resemblance to their private-sector counterparts.
What Are Interest Costs on the National Debt?
Interest costs are on track to become the largest category of spending in the federal budget.