Statement from Foundation Chairman, Pete Peterson, on House Speaker Boehner’s Comments
“We applaud Speaker Boehner’s statement that congressional Republicans are willing to accept new revenues as part of a comprehensive fiscal plan. We are also pleased that President Obama has reached out to congressional leaders on both sides of the aisle. These are encouraging signs that the President and Congress may be moving toward compromise.
There is widespread agreement across the ideological spectrum about the dangers posed by the fiscal cliff, which looms just 54 days away. Our elected leaders should turn the fiscal cliff into a key moment of opportunity to bring the nation together to solve our long-term fiscal challenges.”
Further Reading
What Is the Premium Tax Credit?
The premium tax credit reduces the cost of health insurance for millions of Americans. It is also one of the largest federal tax expenditures.
National Debt Projected to Hit 175% GDP; Interest Totals $99 Trillion
Compared with the previous 30-year projections, spending will be higher, revenues lower, interest rates and interest payments elevated, and the national debt significantly larger.
Federal Healthcare Costs on Track to Reach $3.1 Trillion by 2036
Federal healthcare programs are among the fastest-growing drivers of federal spending, and their continued growth will put significant upward pressure on the national debt.