Statement from Michael A. Peterson on CBO’s August Update
“Today’s CBO report is yet another warning to our elected leaders that they must take action to address the nation’s fiscal challenges, including the upcoming fiscal cliff. What we desperately need is a bipartisan solution to the nation’s long-term fiscal problems that can be agreed upon now, and implemented gradually over time. A sustainable long-term fiscal plan for America would boost confidence in the economy in the short-term — aiding the recovery and providing businesses with the certainty they need to plan for the future and invest — and also put the nation on a better economic path for the long term.”
Further Reading
How Much Do We Spend on the Federal Workforce?
Here, we examine the federal government’s expenditure on its workforce, the evolution of its size over time, and the opportunities for budget savings.
What Are Interest Costs on the National Debt?
Interest costs are on track to become the largest category of spending in the federal budget.
The One Big Beautiful Bill Act Is the Most Expensive Reconciliation Package in Recent History
The legislative package will be the most expensive reconciliation bill in a quarter of a century and will add trillions of dollars to the U.S. debt.