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“These reports drive home the urgent need to ensure that the critical Medicare and Social Security programs are sustainable into the future," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
“We’re clearly heading in the wrong direction, and it’s unfortunate that our leaders are not putting forward credible plans to improve our fiscal foundation," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
While the Tax Cuts and Jobs Act of 2017 will likely boost economic growth in the near term, the effects of the legislation are temporary.
The concentration of income toward high earners has become more pronounced over the last 36 years.
https://www.pgpf.org/blog/2018/04/cbo-income-inequality-continues-to-rise
“Our country is on an unsustainable fiscal path, and reforming our broken budget process can be an important part of improving our fiscal future," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
“Today’s CBO report confirms that major damage was done to our fiscal outlook in just the past few months," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
Since 1980 the share of total pre-tax income has sharply increased for the wealthy, but decreased for low income households.
Debt levels have risen in many sectors of the economy.
The median real income for families in the United States has seen slow growth for decades.
https://www.pgpf.org/chart-archive/0213_stagnant_median_income
