Michael A. Peterson, CEO of the Peter G. Peterson Foundation, commented today on the release of the Congressional Budget Office’s updated Long-Term Budget Outlook: “Today’s CBO report shows debt rising rapidly over the next three decades, and serves as a timely warning for this year’s tax policy debate.  “Over the next 30 years, debt will…

“Tomorrow, we will get an updated fiscal outlook, but we already know that the picture is dire,” said Michael A. Peterson.

“Strong majorities of voters, and Republicans in particular, are sending a clear message that now is not the time to make our fiscal outlook any worse,” said Michael A. Peterson.

“As we enter this budget reconciliation process, it’s important to recognize we are currently on a path to add $22 trillion to the national debt over the next ten years.”

“As a new president and Congress take office, voters across the political spectrum see the need to prioritize addressing our $36 trillion and rising national debt,” said Michael A. Peterson.

“CBO’s new report shows the high budgetary stakes as a new Congress and president begin their terms and face critically important budget decisions this year.”

“With the debt ceiling back in place and a number of major budgetary matters expiring, 2025 is a critical year for America’s fiscal and economic future,” said Michael A. Peterson.

“Our national debt just crossed $36 trillion and sadly we’re currently on pace add $22 trillion more over the next decade,” said Michael A. Peterson.

“With America’s debt rising unsustainably and inflation concerns top of mind, 2025 is a critical year for our economy and fiscal standing,” said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.

“As we near the end of a long election season, voters are sending a clear signal that they want candidates to have a plan to address the debt,” said Michael A. Peterson.