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By focusing fiscal policymaking more squarely on the long term and providing better tools to help enforce budget agreements over time, budget process reform could encourage long-term fiscal sustainability.
https://www.pgpf.org/finding-solutions/budget-process-reforms
Policy leaders and experts across the political spectrum have put forward a number of comprehensive plans to reduce America’s long-term debt and lay a strong foundation for future economic growth.
Experts from five leading think tanks developed specific, "scoreable" policy proposals to set the federal budget on a sustainable, long-term path for prosperity and economic growth.
https://www.pgpf.org/pgpf-programs-and-projects/solutions-initiative-iii
PGPF asked experts from 5 leading think tanks to draft a memo for the next President & Congress, identifying 3 top priorities for policymakers following the next election cycle.
A strong fiscal outlook is an essential foundation for a growing, thriving economy – but our current debt-to-GDP ratio is the highest it has been since 1950.
https://www.pgpf.org/infographic/infographic-the-fiscal-state-of-play
“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
Under current law, federal debt is now projected to reach 150 percent of GDP within 30 years — by far an all-time high.
Understanding what’s happening on Capitol Hill requires an understanding of the Congressional budget process — which is notoriously technical, complex and arcane.
“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.
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.
