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A strong fiscal outlook is an essential foundation for a growing, thriving economy.
https://www.pgpf.org/infographic/infographic-how-does-the-national-debt-affect-the-economy
Unique Research Project from Peterson Foundation and Ford Foundation Convenes Authors of 31 New Papers Exploring America’s Most Significant Long-Term Challenges
“This new CBO report shows just how much more dangerous the future looks if these tax cuts and spending increases are allowed to continue," said Michael A. Peterson, Chairman and CEO of the Peter G. Peterson Foundation.
“CBO’s report is filled with sobering projections that should be an urgent wakeup call for the Administration and Congress," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
“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.
“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.
By making gradual changes to federal spending and revenue, lawmakers can not only stabilize our fiscal outlook, but provide long-run economic benefits for American families (in terms of real GNP growth) without inflicting undue damage on the U.S. economy in the near term.
On our current path, CBO projects that deficits will reach $1.0 trillion by 2022 and total $10.1 trillion over the next ten years.
https://www.pgpf.org/analysis/2017/06/cbo-unsustainable-deficits-threaten-future-economic-growth
