2018 Fiscal Summit Media Advisory
As campaigns for the 2018 midterm elections get underway within a rapidly changing policy environment, America’s unsustainable fiscal condition remains a transcendent threat to our collective future.
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As campaigns for the 2018 midterm elections get underway within a rapidly changing policy environment, America’s unsustainable fiscal condition remains a transcendent threat to our collective future.
“Today’s report provides a troubling snapshot of America’s fiscal outlook, which we know will only get worse from here,” said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
https://www.pgpf.org/press-release/2021/03/peterson-statement-on-cbos-long-term-outlook
The report anticipates that in 2020 — for the first time since 1982 — the program’s total costs will exceed its total income.
"Reaching $20 trillion in debt should be a wake-up call to solve our fiscal challenges, not an invitation to add to the problem," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
The President's Budget for Fiscal Year 2013 projects that the budget deficit will gradually decline under the President's policies from $1,327 billion in 2012 to $704 billion in 2022.
https://www.pgpf.org/analysis/analysis-of-the-president%E2%80%99s-fiscal-year-2013-budget
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for December 2020.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-december-2020
“CBO has once again provided clear evidence that we must do something about America’s dangerous fiscal situation," Michael A. Peterson, CEO of the Peter G. Peterson Foundation, said.
https://www.pgpf.org/press-release/2019/01/peterson-foundation-cbo-confirms-dangerous-fiscal-path
Federal debt would rise to 78 percent of GDP in 2014 — higher than it has been at any point in our history since 1950.
https://www.pgpf.org/analysis/analysis-of-the-president%E2%80%99s-fiscal-year-2014-budget
The defense share of the federal budget has averaged 21 percent over the past two decades.
The Congressional Budget Office released its 2015 Long-Term Fiscal Outlook, which projects that by 2040, federal debt will climb to over 100 percent of GDP under current law and could reach 175 percent of GDP under less optimistic assumptions.