Statement from Foundation President, Michael A. Peterson, on Nov. 8th 2012 CBO Report

FOR RELEASE

Nov 8, 2012

CONTACT


Peter G. Peterson Foundation press@pgpf.org

“This CBO report is yet another warning to our leaders in Washington that we must address the looming fiscal cliff, which is just 53 days away.

The fiscal cliff represents a moment of opportunity for policymakers, and could mark a positive turning point for the country’s fiscal future. Instead of allowing our economy to go over the fiscal cliff, or once again kicking the can on the necessary action on our deficits, leaders should seize this opportunity to pass a comprehensive, bipartisan plan that stabilizes the long-term debt and builds a stronger economic future.”

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.