Peterson Foundation Statement on OMB Mid-Session Review

NEW YORK — Michael A. Peterson, CEO of the Peter G. Peterson Foundation, commented on the release of the mid-session review from the Office of Management and Budget (OMB), an annual update and revision of White House budget projections. Peterson said:

“The administration projects that the deficit is on track to hit $1 trillion this year, even though we are in a strong economy and low interest rate environment. The mid-session review is just the latest reminder of the dangerous fiscal path that we’re on – and it drives home the point that we are missing a valuable opportunity to start managing our debt during a time of growth and high employment. With an array of important fiscal deadlines approaching this fall, our high and rising debt should be a top priority.”