Statement by Foundation Chairman, Peter G. Peterson, on President Obama’s State of the Union Address
“To build a thriving economy with opportunity for all Americans, the President and Congress must take decisive action to address our long-term debt and deficits. An economy burdened by massive interest costs cannot grow, and the critical resources we need to invest in our future will simply not be there unless we get our fiscal house in order.
The nation can’t afford for our lawmakers to take a year off from fiscal reform, just because this is a political season. Many credible solutions exist, and both parties should pursue them together. There are several bipartisan plans that get the fiscal job done, with consideration of the fragile recovery, compassion for the most vulnerable, and with comprehensive tax reform that is both more fair and more competitive.
A plan that is implemented when the economy is stronger is not only essential for our economic and fiscal future, but would boost confidence today and help to stimulate the current economy.”
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Fiscal Outlook
Further Reading
Top 10 Reasons Why the National Debt Matters
At $36 trillion and rising, the national debt threatens America’s economic future. Here are the top ten reasons why the national debt matters.
What Are Refundable Tax Credits?
The cost of refundable tax credits has grown over the past several years, with the number and budgetary impact of the credits increasing.
Three Reasons Why Assuming Sustained 3% Growth is a Budget Gimmick
Lawmakers are reportedly counting on 3 percent economic growth for the next decade. Here are three key reasons why that is an irresponsible budget gimmick.