Statement from the Peterson Foundation on 2013 Congressional Budget Office’s Long-Term Budget Outlook
Statement from the Peterson Foundation on 2013 Congressional Budget Office’s Long-Term Budget Outlook
NEW YORK — Michael A. Peterson, President and COO of the Peter G. Peterson Foundation, commented today following the release of the Congressional Budget Office’s Long-Term Fiscal Outlook for 2013:
“Our nation’s long-term debt remains as troubling as ever. Today’s report confirms that we have not addressed the fundamental drivers of our long-term structural deficits, and that we are still on a path to burden the next generation with an insurmountable level of debt. Congress and the President should use the upcoming fiscal debates to recommit themselves to building a framework that addresses this critical issue for our economy and the nation’s future.”
For a summary of the 2013 Congressional Budget Office’s Long-Term Budget Outlook, click here.
Further Reading
Budget Basics: What Is the Child Tax Credit?
The CTC provides assistance to families with children, and while it represents a relatively modest part of overall government spending, it is one of the largest tax expenditures.
Budget Basics: Tax Expenditures
Tax expenditures can come in the form of exclusions, exemptions, deductions, and credits.
What Are the Economic Costs of Child Poverty?
Child poverty is higher in the United States than in other wealthy countries. Studies show that it has quantifiable economic costs.