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Michael A. Peterson on the speech by NJ Governor Chris Christie in New Hampshire

Michael A. Peterson, PGPF President and CEO, released an official Foundation statement today following a speech at the New Hampshire Institute of Politics by New Jersey Governor Chris Christie:

"The 2016 election represents an important opportunity for a national conversation on how to address America's unsustainable fiscal outlook. Governor Christie should be commended for beginning this discussion, and offering a range of specific reform proposals. There are many policy options that exist, and candidates who may disagree with Governor Christie’s policy ideas should put forth their solutions to our nation’s undeniable and dangerous long-term debt problem."

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

 

 

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PGPF Video: The Tax Reform Opportunity

As millions of Americans work to meet this week's Tax Day filing deadline, there's no doubt that the U.S. tax code has become long, confusing, and cumbersome. PGPF has released a new video, The Tax Reform Opportunity, that describes how to simplify the tax code to enhance fairness and promote economic growth.

Comprehensive tax reform is not an easy task, but many promising solutions exist. Click here to watch the video, and for additional resources and information on the topic.

 

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April 2015 PGPF Chart Pack

PGPF has released the April 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.

 
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Fiscal Confidence Index: March 2015 results

PGPF today released the latest Fiscal Confidence Index survey results. The FCI Value for March 2015 is 47 (100 is neutral), indicating voters continue to be concerned about the country’s fiscal health, the direction of the problem, and the likelihood of progress in the future.

PGPF President & CEO Michael A. Peterson commented on the new FCI results:

"Voters understand that the economy of the U.S. depends on having a sustainable fiscal foundation. Even though deficits have fallen recently, they will begin rapidly rising again soon unless we get to work on putting our fiscal house in order. Congress and the president have an important opportunity to work together during the budget season to put our nation on a sustainable long-term fiscal path — this would provide a boost to business and consumer confidence and certainty in the short term, and support broader economic growth, opportunity and prosperity over the long term."

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

 

 

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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.

 

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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.

 

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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.

 

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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.

 
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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.

 

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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.

 

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