The House and Senate return from August break today with their work cut out for them on the fiscal front. While the issues are serious, unfortunately there’s not much time to act. Whether it’s finding consensus on a $90 billion budget gap before the end of the fiscal year, or next month’s looming debt ceiling debate, these challenges are urgent and demand leadership.
To welcome back the reconvening Congress, and highlight these critical challenges, the Peterson Foundation presents a fiscally-focused infographic that illustrates what’s at stake this fall. We’re sharing it to encourage Congress and the President to put a plan in place that protects America’s economic recovery, and also stabilizes our long-term national debt.

Further Reading
United States Is Borrowing at a Higher Rate than the Global Average, Warns IMF
New IMF reports serve as a warning to all countries that global fiscal and economic conditions are veering into dangerous territory.
News from the Quarterly Treasury Refunding Statement
As borrowing has risen, the Treasury has generally been increasing the proportion of bills (maturity of one year or less) in its portfolio of marketable securities.
Moody’s Downgrade of U.S. Credit Rating Highlights Risks of Rising National Debt
For the first time ever, all three major credit ratings agencies have downgraded U.S. credit below their top rating.