Statement from Michael A. Peterson on CBO’s August Update

FOR RELEASE

Aug 22, 2012

CONTACT


Peter G. Peterson Foundation press@pgpf.org

“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

Person feeding a child

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.

What Is the Primary Deficit?

The primary deficit is the difference between government revenues and spending, excluding interest payments. Learn more about the U.S. primary deficit.