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“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.
A dyanmic panel brought perspectives from across the country to assess the current state of America’s economic engine and the role that state and local governments play in our nation’s fiscal and economic future.
The official poverty rate in 2016 was 12.7%, down from 13.5% in 2015 — bringing it back to pre-recession poverty levels.
Even if Congress raises the debt limit and avoids default, last-minute brinksmanship alone has the potential to create economic damage.
https://www.pgpf.org/blog/2017/09/how-the-lack-of-action-on-the-debt-limit-can-hurt-the-economy
