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The Peter G. Peterson Foundation on the Congressional Budget Office outlook.
As Congressional leaders and the President discuss a potential temporary solution to the current fights over the government shutdown and the debt ceiling, the repeated cycle of lurching from crisis to crisis has significant costs to the U.S. economy, according to a new report released today.
https://www.pgpf.org/press-release/new-study-measures-the-high-cost-of-crisis-driven-government
“At $23 trillion and counting, the national debt is a major concern for the vast majority of Americans across party lines,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2019/11/fci-press-release
What does reinstating the debt ceiling mean for federal policymaking and the economy?
https://www.pgpf.org/analysis/2017/03/the-debt-ceiling-reinstated
CBO projects that federal debt will climb to 141 percent of GDP within 30 years — exceeding the highest level of debt ever recorded at the end of World War II by a large margin.
CBO projects that the federal budget deficit will increase as a share of GDP for the first year since 2009.
https://www.pgpf.org/analysis/2016/08/CBO-deficits-are-back-on-the-rise
As lawmakers consider a range of costly new tax and spending proposals, voters across party lines are urging their leaders to prioritize the nation’s high and rising debt.
https://www.pgpf.org/press-release/2019/06/fci-press-release
Higher short- and long-term Treasury rates mean that the federal government’s borrowing costs will also rise, thereby generating significant consequences for the budget and the national debt.
“The economy is growing, but so is the federal deficit, and that’s highly unusual.” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2019/04/fci-press-release
Peter G. Peterson releases a statement on Baucus-Hatch tax reform principles.