Fiscal Blog

Blog Posts

New PGPF report: Debt Limit Uncertainty Returns

Since early 2014, the federal debt ceiling had been suspended — until today. Now, the statutory debt limit is reinstated, limiting the amount of borrowing available to the Treasury without the use of "extraordinary measures." A new report from PGPF, "Risking the Recovery: Debt Limit Uncertainty Returns," examines the history and use of the debt limit as a part of the government's budget process. As illustrated above, the debt limit has been raised several times over the past half-decade, under many presidential administrations and Congresses.

Click here to read the full report. Click here for the official Foundation statement on today's reinstatement from PGPF President and CEO Michael A. Peterson.

 

Full Post and Comments »

CBO Analysis of the President's FY 2016 Budget

Today PGPF released a new report on the Congressional Budget Office's analysis of the President's proposed fiscal year 2016 budget. Using their own economic and technical assumptions, CBO finds that under the President’s budget, debt would remain at historically high levels over the next ten years, interest costs would climb sharply, and mandatory spending would continue to grow while funding for discretionary programs declines to historically low levels.

Click here for the full report, "CBO Analysis: Debt Remains High under President's Budget," which includes chart information on key data points.

 

Full Post and Comments »

Stockton University wins 2015 Up to Us college campus competition

Up to Us, an annual college campus campaign sponsored by the PGPF in partnership with the Clinton Global Initiative University (CGI U) and Net Impact, today announced the winner of its 2015 competition. The Stockton University team took first prize for its innovative campaign to educate and engage millennials on how to address America's long-term national debt.

This year’s Up to Us teams were evaluated by a panel of judges, including Congressman Joaquín Castro; Chelsea Clinton, Vice Chair of the Clinton Foundation; the Honorable Mick Cornett, Mayor of Oklahoma City; Ben Rattray, founder and CEO of the online social change website Change.org; and George Stephanopoulos, anchor of ABC’s “This Week” and “Good Morning America."

In addition to the four-week competition, students across the country added their "two cents" by participating in My Two Cents Day, the first-ever national day of mobilization around fiscal issues.

Learn more about this year's Up to Us competition, including comments from President Bill Clinton and PGPF Founder Pete Peterson, here.

 

Full Post and Comments »

March 2015 PGPF Chart Pack

PGPF has released the March 2015 update for its Chart Pack, Selected Charts on the Long-Term Fiscal Challenges of the United States. Download the Pack in PDF format and visit the PGPF Charts Archive to browse all of the Foundation's originally-researched charts, graphs, and tables. (Feel free to use/reproduce, with attribution to "Peter G. Peterson Foundation" along with the pgpf.org hyperlink.)

The PGPF Chart Pack illustrates that budget-making involves many competing priorities, limited resources, and complex issues. In this set of 22 charts, the Foundation frames the financial condition and fiscal outlook of the U.S. government within a broad economic, political, and demographic context.

 
Full Post and Comments »

Michael A. Peterson on the appointment of Dr. Keith Hall to serve as Director of CBO

Michael A. Peterson, PGPF President and COO, released an official Foundation statement today following the appointment of Dr. Keith Hall to serve as Director of the Congressional Budget Office (CBO), succeeding Douglas Elmendorf:

"We congratulate Dr. Keith Hall on his appointment to be the next Director of the Congressional Budget Office. Dr. Hall has a very impressive background, and we wish him well in this important role. CBO serves as a critical resource to Congress and the American people, providing an essential, independent voice in the budgetary process that helps improve understanding of our fiscal challenges. In an increasingly difficult political environment — and with many unanswered questions about America’s long-term fiscal and economic future — CBO’s role is more important than ever."

For the full statement, click here. For more of PGPF's statements and press releases, click here.

 

Full Post and Comments »

Analysis: Congressional Budget Office's 40th anniversary

Forty years ago today, the Congressional Budget Office’s first director, Alice Rivlin, was appointed and CBO began fulfilling its unique and invaluable role as a nonpartisan budget referee. To mark this milestone, the Peterson Foundation is releasing a look at the history and importance of this institution: 40 Years and Counting: The Independent and Effective Congressional Budget Office.

Over the last four decades, the Congressional Budget Office has become an indispensable part of the nation's policymaking process. As CBO celebrates its 40th anniversary — and as Congress considers appointing a new director — there is a key opportunity for policymakers to reaffirm their support for the independence of this agency.

For the Peterson Foundation’s full analysis, click here.

 

Full Post and Comments »

Fiscal Confidence Index: February 2015 results

The latest Fiscal Confidence Index survey results for February 2015 have been released. This month's FCI Value is 45, indicating voters’ continuing concern over the nation’s fiscal health.

Comments from Peterson Foundation President & COO Michael A. Peterson on the February FCI results:

"Voters understand that we need to address our long-term fiscal challenges in order to secure a growing and prosperous economy. As our economy gains strength, voters are looking to Washington for leadership to put our nation’s fiscal house in order."

See the full results for February, and read this month's press release which includes the complete survey questions and polling response breakdowns.

 

 

Full Post and Comments »

February 2015 PGPF Chart Pack

PGPF has released its updated Chart Pack for February 2015, Selected Charts on the Long-Term Fiscal Challenges of the United States. Download the Pack in PDF format and visit the PGPF Charts Archive to browse all of the Foundation's originally-researched charts, graphs, and tables. (Feel free to use/reproduce, with attribution to "Peter G. Peterson Foundation" along with the pgpf.org hyperlink.)

The PGPF Chart Pack illustrates that budget-making involves many competing priorities, limited resources, and complex issues. In this set of 22 charts, the Foundation frames the financial condition and fiscal outlook of the U.S. government within a broad economic, political, and demographic context.

 
Full Post and Comments »

National #MyTwoCentsDay for Up to Us college students

Today thousands of students on college campuses across the country are mobilizing to make their voices heard on the long-term national debt and what it means for their economic opportunities in the future. Up to Us, a nationwide campus competition co-sponsored by PGPF, is coordinating today's "My Two Cents Day" activities, both on-campus at 49 participating schools as well as digitally through social media.

Click here to learn more about My Two Cents Day, including comments from PGPF President Michael A. Peterson. Visit the #MyTwoCentsDay social stream to see how student teams are getting their messages out.

 

Full Post and Comments »

Charting a New Course for America's Economic Future

Addressing our nation’s long-term fiscal challenges is essential to building an economic future that is dynamic, innovative, competitive, compassionate and full of opportunity for the next generation.

These and other ideas are laid out in Foundation Chairman Pete Peterson’s latest book, STEERING CLEAR: How To Avoid A Debt Crisis And Secure Our Economic Future. Pete discusses a range of non-partisan solutions and recommendations to steer the nation towards fiscal health and economic strength. See excerpt below:

"I see an America that has the best educated — and most highly skilled — workforce in the world and whose workers have strong training in math, science, and technological skills... I see an America with much less inequality of income and much more upward mobility ...I see an America whose safety net is secure for the vulnerable and whose entitlement programs are sustainable for the long run. I see an America with a healthcare system that provides better care at lower costs. All of these things are possible if we act to stabilize America’s long-term debt. None will be achievable if we don’t." — Peter G. Peterson in Steering Clear

To read more of Pete’s thoughts on our nation’s fiscal and economic future, visit: www.SteeringClearTheBook.com.

 

Full Post and Comments »

Pages

Subscribe to Blog Posts