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In 2008, the Peter G. Peterson Foundation was established with the goal of preserving the American Dream for the next generation. My father saw our high and rising debt as a transcendent threat to our future economy – posing a risk to every American, and our leadership role in the world.
Spending for mandatory programs and net interest is projected to putpace all other non-interest spending.
https://www.pgpf.org/chart-archive/0174_SS_major_health_climb
Spending on the major healthcare programs, Social Security, and interest will continue to climb rapidly over the long term.
https://www.pgpf.org/chart-archive/0281_spending_to_climb_rapidly
"Too often in recent years, Washington has largely governed by crisis. No area better reflects the pressure of constant crisis than the federal budget," writes Leon E. Panetta
"It is easy to look at the state of American politics and feel despair. Instead, we should be motivated to solve big problems," writes Robert Portman
"A fiscal commission is most likely to succeed if the broader public is involved in the process," writes Sita Slavov.
Portman, Panetta, Heitkamp, Zandi and others call for bipartisan fiscal commission, outlining spending and revenue reforms to stabilize the debt.
"The public has to be involved, educated, and understand the consequences of inaction. Legislators will not make difficult decisions unless their constituents see a need and reason to act," writes G. William Hoagland
https://www.pgpf.org/expert-views/fiscal-commission/fiscal-commissions-promises-and-disappointments