Statement from Foundation Chairman, Pete Peterson, on House Speaker Boehner’s Comments
“We applaud Speaker Boehner’s statement that congressional Republicans are willing to accept new revenues as part of a comprehensive fiscal plan. We are also pleased that President Obama has reached out to congressional leaders on both sides of the aisle. These are encouraging signs that the President and Congress may be moving toward compromise.
There is widespread agreement across the ideological spectrum about the dangers posed by the fiscal cliff, which looms just 54 days away. Our elected leaders should turn the fiscal cliff into a key moment of opportunity to bring the nation together to solve our long-term fiscal challenges.”
Further Reading
Healthcare Costs Are a Major Driver of the National Debt and Here’s the Biggest Reason Why
One of the largest drivers of that rising debt is federal spending on major healthcare programs, such as Medicare and Medicaid.
Despite Decades of Warnings, Depletion of Social Security’s Trust Fund Is Getting Closer
The depletion dates for Social Security and Medicare’s Trust Funds are rapidly approaching.
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.