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The Peter G. Peterson Foundation is a nonpartisan, nonprofit organization focused on building a brighter economic future for all Americans. Browse news from the Foundation, and read about our upcoming events.

Analysis
Higher Interest Rates and the National Debt

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.

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March 22, 2023
Blog Posts
Would Increased Funding for the IRS Narrow the Tax Gap?

Here we examine that increase in funding in greater detail by analyzing the extent to which more funding impacts tax compliance, the tax gap, and federal revenues.

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March 15, 2023
Press Releases & Statements
Peterson Foundation Statement on President’s Budget

“It’s critical that budget proposals fully address the structural drivers of our debt in order to stabilize it over the long run," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.

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March 9, 2023
Blog Posts
President Biden’s Budget Would Reduce Deficits by Raising Taxes on the Wealthy and Corporations

Today, the Biden Administration released its budget for fiscal year 2024, calling for a reduction in federal deficits by $2.9 trillion over the next decade relative to current law.

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March 9, 2023
Blog Posts
Eight of the Largest Tax Breaks Explained

Tax breaks totaled over $1.7 trillion in 2022. To put that in perspective, that’s more than the government spends on Social Security, defense, or Medicare.

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March 8, 2023
Blog Posts
How Can Fiscal Policy Help Reduce Inflation?

Responsible fiscal policy can play an important complementary role to monetary policy in helping to moderate inflation.

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March 7, 2023
Blog Posts
Lifting the Debt Ceiling Has Been Paired with Budget Reform in the Past

Earlier this year, the United States once again hit its debt ceiling, which is currently capped at $31.4 trillion.

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March 3, 2023
Blog Posts
How Much Is the National Debt? What are the Different Measures Used?

There are three widely used measures of federal debt. What are the important differences between these measurements?

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March 3, 2023
Press Releases & Statements
With Federal Interest Costs Rising to Record Levels, Voters Are Deeply Concerned About the National Debt

“CBO’s latest report shows just how vulnerable we are to rising interest rates, and voters are paying attention,” said Michael A. Peterson, CEO of the Peterson Foundation.

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March 3, 2023
Explainers
The Highway Trust Fund Explained

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.

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March 2, 2023
Blog Posts
7 Key Trends in Poverty in the United States

According to the official poverty measure of the U.S. Census Bureau, 37.9 million people lived in poverty in 2021.

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February 27, 2023
Blog Posts
Debt vs. Deficits: What's the Difference?

The words debt and deficit come up frequently in debates and conversations about the policy decisions that lawmakers face. The two concepts are similar, but are often confused.

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February 24, 2023
Blog Posts
How Does Government Healthcare Spending Differ From Private Insurance?

Healthcare spending is a critically important part of the American economy and the federal budget.

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February 23, 2023
Blog Posts
What Is the National Debt Costing Us?

Programs that millions of Americans depend on and care about may be feeling a squeeze from interest costs on our high and rising national debt.

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February 21, 2023
Blog Posts
Interest Costs on the National Debt Are on Track to Reach a Record High

Borrowing costs have increased rapidly over the past year and will grow through the next decade.

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February 16, 2023
Analysis
Top 10 Reasons Why the National Debt Matters

At $31 trillion and rising, the national debt threatens America’s economic future. Here are the top ten reasons why the national debt matters.

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February 16, 2023
Blog Posts
Interest is Skyrocketing, and the National Debt Will Reach an All-time High in just 5 years

The Congressional Budget Office (CBO) released updated budget and economic projections, which incorporate the effects of higher interest rates, annual appropriations, and other recent legislative and economic developments

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February 15, 2023
Press Releases & Statements
Peterson Foundation Statement on Skyrocketing Interest Costs in New CBO Report

“Interest costs are skyrocketing to record levels, damaging our nation’s budget, economy and future," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.

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February 15, 2023
Blog Posts
What’s the difference between CUTGO and PAYGO?

CUTGO is short for “cut-as-you-go,” and it is an internal rule used by the House of Representatives, meaning that it does not apply to consideration of legislation in the Senate.

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February 14, 2023
Explainers
Budget Basics: Tax Expenditures

Tax expenditures can come in the form of exclusions, exemptions, deductions, and credits.

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February 14, 2023
Press Releases & Statements
Students from New York’s Stony Brook University Win Top Prize for 11th Annual Up to Us Competition

With the national debt surpassing $31 trillion, the next generation of American leaders is making its voice heard.

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February 14, 2023
Infographics
Infographic: U.S. Healthcare Spending

Improving our healthcare system to deliver better quality care at lower cost is critically important to our nation’s long-term economic and fiscal well-being.

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February 9, 2023
Blog Posts
How Much Government Spending Goes to Children?

Interest costs on the national debt are expected to rapidly outstrip spending on children in coming years.

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February 7, 2023
Blog Posts
The United States Forgoes Hundreds of Billions of Dollars Each Year Due to Unpaid Taxes

Cracking down on the tax gap would not only introduce more fairness into the system, but it could be a big help for our nation’s fiscal imbalance — to the tune of hundreds of billions of dollars every year.

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February 6, 2023
Blog Posts
Should We Eliminate the Social Security Tax Cap? Here Are the Pros and Cons

There have been a number of proposals to increase, eliminate, or otherwise adjust the payroll tax cap as a way to shore up Social Security’s finances.

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February 6, 2023
Press Releases & Statements
US Fiscal Confidence Drops as Era of Divided Government Begins

“With interest on the debt rising to more than $1 billion a day, voters know our fiscal condition is simply not sustainable,” said Michael A. Peterson, CEO of the Peterson Foundation.

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February 3, 2023
Blog Posts
76 Options to Reduce the Federal Deficit

There’s no doubt America’s fiscal problems are serious and significant, but CBO’s assortment of options offers lawmakers a deep playbook of spending and revenue changes that would put us on a better path.

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February 2, 2023
Press Releases & Statements
How to Rise above Gridlock: Political and Policy Experts Show Pathway to Bipartisan Progress under Divided Government

Eight new essays bring practical advice for congress and the administration to address America’s most pressing fiscal and economic challenges.

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February 2, 2023
Blog Posts
Why Are Americans Paying More for Healthcare?

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 United States.

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January 30, 2023
Blog Posts
How the Lack of Action on the Debt Ceiling Can Hurt the Economy

Even if Congress raises the debt ceiling and avoids default, last-minute brinksmanship alone has the potential to create economic damage.

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January 23, 2023
Analysis
Debt Ceiling Update: What’s at Stake

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.

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January 20, 2023
Blog Posts
What Are the Treasury’s “Extraordinary Measures”?

As the U.S. reaches its debt ceiling, the Department of the Treasury is now using “extraordinary measures” to keep the federal government from defaulting on its debts.

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January 19, 2023
Infographics
What Is the Debt Ceiling?

Increasing the debt ceiling 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.

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January 18, 2023
Blog Posts
Without Reform, Social Security Could Become Depleted by 2033

As the largest program in the federal budget, Social Security is a critical part of our nation’s fiscal picture and vital to millions of elderly recipients.

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January 12, 2023
Press Releases & Statements
New Year’s Resolution: 9 in 10 Voters Say Leaders in Divided Government in 2023 have a Responsibility to Work Together on National Debt

“Across party lines, vast majorities of voters believe that divided government brings an important responsibility for our leaders to work together to secure our fiscal future,” said Michael A. Peterson, CEO of the Peterson Foundation.

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January 5, 2023
Blog Posts
What is a Continuing Resolution?

A continuing resolution is a temporary funding measure that Congress can use to fund the federal government for a limited amount of time.

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January 3, 2023
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