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The International Monetary Fund warns that U.S. debt levels pose a risk for future economic growth and fiscal stability.
https://www.pgpf.org/blog/2018/10/imf-raises-concerns-for-fiscal-stability-of-the-united-states
Trillion-dollar annual deficits not seen since the Great Recession are expected to return as soon as next year, and when that happens, American taxpayers will be paying an average of $1 billion per day in interest costs on the national debt.
https://www.pgpf.org/blog/2018/10/what-theyre-saying-deficit-hits-six-year-high
“As troubling as this year’s deficit is, it’s just the beginning of large and growing deficits as far as the eye can see," Michael A. Peterson, Chairman and CEO of the Peter G. Peterson Foundation, said.
Negotiating levels of defense spending is often one of the more contentious parts of the budget process. The good news is that there are ways of ensuring America’s security while strengthening our fiscal and economic outlook.
https://www.pgpf.org/infographic/infographic-the-facts-about-us-defense-spending
Mandatory programs and interest costs will take over more of the federal budget, crowding out discretionary programs.
https://www.pgpf.org/chart-archive/0156_mandatory_discretionary_pies
Our fiscal imbalance crowds out priorities, threatens our economic health, increases the likelihood of a fiscal crisis in the future, and will inhibit our ability to deal with such a crisis if it comes.
Under current law, federal debt is now projected to reach 150 percent of GDP within 30 years — by far an all-time high.
Solutions to the fiscal challenge must be long-term, bipartisan budget solutions that can be implemented gradually. Discover some of the comprehensive plans proposed, as well as policy options for individual parts of the budget that merit consideration.
“America faces a new and uncertain landscape,” President and CEO Michael Peterson said — noting the challenges and opportunities related to our nation’s fiscal and economic out-look.
“America’s high and rising national debt threatens our economy, and must be included in the policy conversation this year," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
https://www.pgpf.org/press-release/2017/03/statement-on-cbo-2017-long-term-budget-outlook
