Statement from the Peterson Foundation on 2013 Congressional Budget Office’s Long-Term Budget Outlook
Statement from the Peterson Foundation on 2013 Congressional Budget Office’s Long-Term Budget Outlook
NEW YORK — Michael A. Peterson, President and COO of the Peter G. Peterson Foundation, commented today following the release of the Congressional Budget Office’s Long-Term Fiscal Outlook for 2013:
“Our nation’s long-term debt remains as troubling as ever. Today’s report confirms that we have not addressed the fundamental drivers of our long-term structural deficits, and that we are still on a path to burden the next generation with an insurmountable level of debt. Congress and the President should use the upcoming fiscal debates to recommit themselves to building a framework that addresses this critical issue for our economy and the nation’s future.”
For a summary of the 2013 Congressional Budget Office’s Long-Term Budget Outlook, click here.
Further Reading
Infographic: The Facts About U.S. Defense Spending
National security is both a vital priority and a significant part of the federal budget.
What Is Budget Reconciliation?
The reconciliation process avoids the potential need to gather 60 votes to end debate and, therefore, allows the Senate to adopt legislation with a simple majority.
Budget Basics: National Defense
The national defense budget funds a wide range of activities and represents a significant share of overall federal spending.