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“The vast majority of Americans across party lines continue to urge national leaders to manage the debt,” said Michael A. Peterson, CEO of the Peterson Foundation.
Michael A. Peterson, CEO of the Peter G. Peterson Foundation, commented today following the release of the Monthly Treasury Statement, which showed a deficit of $234 billion.
Unique Research Project from Peterson Foundation and Ford Foundation Convenes Authors of 31 New Papers Exploring America’s Most Significant Long-Term Challenges
Leading experts, scholars will discuss 31 new research papers on trends that will shape America’s future economy and society.
High healthcare spending is not necessarily a bad thing, especially if it leads to better health outcomes. However, that is not the case in the U.S.
Although the budget would achieve some deficit reduction on paper under the administration’s calculations, it fails to address the key drivers of our long-term debt and relies on overly-optimistic assumptions for economic growth.
“Today’s proposal marks the beginning of the budget process, and it’s clear that there’s more work to do,” said Michael A. Peterson, CEO of the Peterson Foundation.
Increasing the debt limit allows the Treasury to borrow funds to pay for government obligations that have already been incurred as the result of laws and budgets approved by the President and Congress.
If lawmakers do not agree on raising or suspending the debt limit before the extraordinary measures are exhausted, there would be severe consequences for both the federal government and the economy.
Growth over the next few years is expected to slow as the recent fiscal stimulus wanes.
“The vast majority of Americans across party lines, including younger voters, are calling on the President and Congress to take action on our national debt,” said Michael A. Peterson, CEO of the Peterson Foundation.
At $22 trillion and rising, the national debt threatens America’s economic future. Here are the top ten reasons why the national debt matters.
The 50 U.S. states pull in over $2 trillion in revenue each year and, along with local governments, employ nearly 20 million people. A new report sheds light on budgets at the state level, grading performance and identifying best practices for improvement.
It may be counterintuitive, but government shutdowns are expensive. They are also bad for the economy.
“Reaching this unfortunate milestone so rapidly is the latest sign that our fiscal situation is not only unsustainable, but accelerating," Michael A. Peterson, CEO of the Peter G. Peterson Foundation, said.
Although the debt affects each of us, it may be difficult to put such a large number into perspective and fully understand its implications.
“No review of the state of our union is complete without acknowledging our nation’s high and rising debt," Michael A. Peterson, CEO of the Peter G. Peterson Foundation, said.
The federal budget is on an unsustainable and damaging fiscal trajectory, according to a new report from the non-partisan Congressional Budget Office.
A continuing resolution is a temporary funding measure that Congress can use to fund the federal government for a limited amount of time.
“Washington’s failure to address the national debt and critical budgetary issues has a direct negative effect on Americans’ confidence,” said Michael A. Peterson, CEO of the Peterson Foundation.
Despite a growing economy and low unemployment, federal budget deficits are projected to grow over the next 10 years.
“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.
“This shutdown has negatively affected the lives of millions of Americans, disrupted essential government services, and unnecessarily harmed the economy." Michael A. Peterson, CEO of the Peter G. Peterson Foundation, said.
Putting our nation on a sustainable fiscal path creates a positive environment for growth, opportunity, and prosperity. Unfortunately, America is on a dangerous long-term fiscal path.
Since the shutdown began, about 800,000 federal employees have been furloughed or are working without pay.
“This new rules package includes important reforms that can help encourage fiscal responsibility." Michael A. Peterson, CEO of the Peter G. Peterson Foundation, said.
Budget process rules like PAYGO help ensure that fiscal considerations are an important part of policymaking.
With a new Congress set to convene in the midst of a costly government shutdown, Americans hold deep concerns and a widespread belief that the country is moving in the wrong direction when it comes to the national debt.
The 116th Congress also marks a return to divided government with the Senate controlled by Republicans and the House by Democrats. This new landscape in Washington means there is both a requirement and a valuable opportunity for lawmakers to work together on fiscal solutions.