Peterson Foundation Statement on OMB Mid-Session Review
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.”
Further Reading
Quiz: How Much Do You Know About Healthcare in the United States?
The United States has one of the largest and most complex healthcare systems in the world. Take our healthcare quiz to see how much you know about the cost and quality of the U.S. healthcare system.
The Fed Reduced the Short-Term Rate Again, but Interest Costs Remain High
High interest rates on U.S. Treasury securities increase the federal government’s borrowing costs.
How Did the One Big Beautiful Bill Act Change Tax Policy?
See how OBBBA restructured the tax landscape across four major areas: individual tax provisions, business tax provisions, energy tax credits, and health-related tax changes.