Costs of Delaying Fiscal Reform
Waiting to act raises the cost of stabilizing the debt.
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Waiting to act raises the cost of stabilizing the debt.
The Fed is not in the business of monetizing our government’s debt but is skating close to the edge, which has upped the risk of a misstep.
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for July 2021.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-july-2021
With our economy in recovery, the national debt rising unsustainably, the country still grappling with a devastating pandemic, and lawmakers pursing significant new legislation, America faces many critical questions for its future. To shed light on the best way forward, two top economists participated in a panel discussion as part of the latest edition of the Peterson Foundation Economic Forum.
The Congressional Budget Office's latest Budget and Economic Outlook provides sobering new evidence that our nation's fiscal policies are on an unsustainable and uncertain path.
https://www.pgpf.org/analysis/analysis-of-cbo%E2%80%99s-budget-outlook-fiscal-years-2012-2022
Life expectancy at birth in the United States is lower than in other developed countries, despite higher healthcare costs.
https://www.pgpf.org/Chart-Archive/0201_us_lifeexpectancy_low_despite_cost
“Americans’ confidence in our fiscal outlook is weighed down by deep concerns about the national debt, an uncertain economic outlook and a lack of fiscal leadership,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2022/07/fci-press-release
Fixing the budget requires addressing the root cause of the long-term deficits: escalating Social Security and Medicare shortfalls.
America's economic future depends on policymakers’ willingness to agree on a plan that will put our nation on a sustainable fiscal course.
https://www.pgpf.org/pgpf-programs-and-projects/a-brighter-economic-future