You are here
The Latest
NEWS
The Peter G. Peterson Foundation is a non-partisan, non-profit organization focused on building a brighter economic future for all Americans. Browse news from the Foundation, and read about our upcoming events.
Unless Congress can set aside partisanship and address our nation’s fiscal challenges, the growing national debt will “seriously jeopardize and undermine the American economy,” according to former Secretary of Defense Leon Panetta.
Medicare is an essential health insurance program serving millions of Americans, and a major part of the federal budget and our fiscal outlook.
Social Security is the largest single program in the federal budget and makes up approximately one quarter of total federal spending.
Medicare faces significant financial challenges in future years because of rising healthcare spending and an aging population.
The report projects that in 2018 — for the first time since 1982 — the program’s total costs will exceed its total income.
Federal debt is already at its highest level as a percentage of GDP since 1950 and would exceed its all-time high by 2034 under current law.
“Voters are making the connection between recent tax and spending legislation and our rapidly growing national debt and deficits,” said Michael A. Peterson, Chairman and CEO of the Peter G. Peterson Foundation.
Although the need for serious, long-term changes to the funding structure of the Highway Trust Fund is clear, there is disagreement over the approach to do so.
Federal debt is already at its highest level since 1950 and is projected to climb to 152 percent of GDP under current law by 2048 — by far an all-time high.
PAYGO is a budget enforcement mechanism intended to prevent passage of legislation that increases deficits.
“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.
CBO estimates that in 2017 the number of uninsured people under age 65 rose by 1 million people and they anticipate the total to rise by another million people this year.
CBO’s estimate of the cumulative deficit over the next 10 years totals $2.3 trillion more than the Administration had estimated.
Here are the top ten spending categories for the federal budget.
Every year the Social Security and Medicare Boards of Trustees issue reports on the fiscal health of the country’s two largest entitlement programs, Social Security and Medicare.
“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.
“Voters continue to be concerned about our rising national debt, and rightly so,” said Michael A. Peterson, Chairman 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.
Michael Peterson recognized this year’s winning team from State University Of New York at Old Westbury.
Peter G. Peterson Foundation President and CEO Michael A. Peterson addresses the nation's fiscal challenges.
In these one-on-one interviews, House and Senate leaders provided perspectives on our nation’s fiscal outlook and policies to ensure sustained economic growth.
Members of US 2050’s Advisory Committee joined together for a discussion, led by David Wessel, on these interconnected trends and the importance of understanding where we’re headed in order to make better policy choices today.
This panel brought together leading experts to explore the potential for a well-designed carbon tax to help put our nation on a more sustainable fiscal path.
There is a critical connection between America’s fiscal outlook, energy security and role in the world. Dr. Moniz, a nuclear physicist who served as the thirtieth United States Secretary of Energy, brings a unique understanding of these interrelated challenges and trends.
This panel will bring together voices from the private sector and academia to analyze the threats posed by America’s rapidly rising national debt and discuss fiscal solutions to put us on a better path.
Rep. Tom Reed (R-NY) and Rep. Derek Kilmer (D-WA) appeared together on stage to discuss the political challenges in reaching across the aisle, as well as the opportunity that exists for collaboration and compromise to make progress in critical policy areas.
In these one-on-one interviews, House and Senate leaders provided perspectives on our nation’s fiscal outlook and policies to ensure sustained economic growth.
In these one-on-one interviews, House and Senate leaders will provide perspectives on our nation’s fiscal outlook and policies to ensure sustained economic growth.
“Debt matters because our fiscal irresponsibility threatens the economic future of every American,” said Michael Peterson, Chairman and CEO of the Peter G. Peterson Foundation.
The team will receive a $10,000 cash prize and meet with legislators on Capitol Hill to share their concerns about America’s looming fiscal challenges.
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.
A strong fiscal outlook is an essential foundation for a growing, thriving economy.
After the national debt eclipsed $21 trillion for the first time in March, voters remain deeply troubled by the country’s fiscal situation.
While the Tax Cuts and Jobs Act of 2017 will likely boost economic growth in the near term, the effects of the legislation are temporary.
Understanding the United States’ changing labor force can be a key part of understanding larger trends in the overall economy. Here are key characteristics of the foreign-born population and how they compare to the native-born population.
Economists generally agree that public investment in infrastructure has a positive effect on productivity, and therefore on gross domestic product.
The concentration of income toward high earners has become more pronounced over the last 36 years.
“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.
CBO projects that, on our current path, the deficit will reach nearly $1 trillion next year and will total $12.4 trillion over the ten-year period from 2019–2028.
CBO reports that the fiscal outlook is dramatically worse than it was last year, primarily due to the fiscally irresponsible tax legislation and budget deal that were enacted within the past few months.
“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.
On March 15, 2018 the federal government passed an unfortunate milestone: $21 trillion dollars in gross federal debt.
The fairness of our federal tax system is a hotly debated issue.
There are three widely used measures of federal debt. What are the important differences between these measurements?
The Tax Cuts and Jobs Act will lower revenues significantly and made changes to both tax rates and bracket widths.
There are separate limits on the amount of funding that can be provided for defense and nondefense purposes through the appropriation process.
We are deeply saddened by the loss of our Founder and Chairman, Peter G. Peterson, who worked tirelessly to secure the American Dream for future generations.
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.
“Our mounting debt threatens economic growth, reduces our flexibility to deal with future crises, and diminishes America’s role in the world.," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
“This committee has an important opportunity to improve the budget process in a way that will help encourage fiscally responsible policymaking," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
Proposed work requirements would be a major change in the way that Medicaid works, and would have important implications for the program, its beneficiaries, and the federal budget.
The President’s budget reflects a dramatically worse fiscal outlook than last year’s version released just nine months ago.
Americans’ fiscal confidence is at its lowest point since August 2015, according to the Peter G. Peterson Foundation’s February Fiscal Confidence Index.
Spending on children is shrinking as a percent of GDP.
A continuing resolution is a temporary funding measure that Congress can use to fund the federal government for a limited amount of time.
“Today’s budget represents a dramatically worse outlook than what was released just last May," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
“After adding trillions to our national debt in last year’s irresponsible tax bill, our leaders are now adding another $300 billion in deficits over just the next two years," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
Higher short- and long-term Treasury rates mean that the federal government’s borrowing costs will also rise, thereby generating significant consequences for the budget and the national debt.
“In order to truly help our economy, infrastructure investments must be paid for, because adding more debt hurts our economy," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
Voters call on President to reduce national debt, avoid government shutdowns, according to the Peter G. Peterson Foundation’s January Fiscal Confidence Index.
The survey finds that voters across party lines are calling for the President to put forward plans to reduce the national debt.
Income levels for Americans vary across geography, race, and gender.
What is the Children’s Health Insurance Program? How it is financed? Who benefits from it?
“Piecemeal budgeting is a form of fiscal irresponsibility because it injects uncertainty and unpredictability into our economy," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
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.
As 2018 begins, Americans remain deeply concerned about the national debt.
