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These charts tell the fiscal story of 2021 — looking back at how our fiscal situation deteriorated over the past year and what challenges lie ahead.
“This seven-year low in our fiscal confidence index is a clear sign that voters are concerned about our nation’s fiscal sustainability, and Congress should keep this in mind as they shape major budget legislation,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2021/11/fci-press-release
Modeled after the Consumer Confidence Index, the Fiscal Confidence Index is a national survey that measures public opinion about the national debt.
The legislation includes support for families and lower-income households, funding for climate change, infrastructure and healthcare, and a range of other social investments and tax policy. The new spending is mostly, but not fully, offset by other savings in the bill.
https://www.pgpf.org/infographic/what-is-in-the-build-back-better-act
The Build Back Better Act includes spending on a wide variety of policy areas. If enacted, the legislation would provide benefits for many lower-income households and take steps to address climate change and other social investments.
https://www.pgpf.org/blog/2021/11/build-back-better-is-paid-for-but-uses-budget-gimmicks
“This CBO score is the latest evidence that this bill needs to be improved as it moves through the legislative process," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
Despite lawmakers’ claims, analysts anticipate that a large portion of the spending called for by the infrastructure package will need to be deficit financed.
https://www.pgpf.org/blog/2021/11/bipartisan-infrastructure-bill-less-than-40-percent-paid-for
With our economy in recovery, the national debt rising unsustainably, the country still grappling with a devastating pandemic, and lawmakers pursing significant new legislation, America faces many critical questions for its future. To shed light on the best way forward, two top economists participated in a panel discussion as part of the latest edition of the Peterson Foundation Economic Forum.
Increasing the debt limit allows the Treasury to borrow funds to pay for government obligations that have already been incurred as the result of laws and budgets approved by the President and Congress.
If lawmakers do not agree on raising or suspending the debt limit before the extraordinary measures are exhausted, there would be severe consequences for both the federal government and the economy.
https://www.pgpf.org/analysis/2021/08/debt-ceiling-update-whats-at-stake