Statement from Peterson Foundation on Proposed Budget Deal

NEW YORK — Michael A. Peterson, President and COO of the Peter G. Peterson Foundation, released the following statement this evening as the budget conference committee reached a bipartisan budget agreement:
“This bipartisan deal looks like a good step, but it doesn’t address the real drivers of our long-term debt. We should all welcome our lawmakers coming together on a budget agreement that would end the recent cycle of governing by crisis. But make no mistake — we still have a lot more to do to put our nation on a sustainable fiscal path. I’m hopeful that this agreement will lay the foundation for future bipartisan collaboration to stabilize our national debt for the long term.”
Further Reading
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.
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.