Statement from the Peterson Foundation on 2013 Congressional Budget Office’s Long-Term Budget Outlook
Statement from the Peterson Foundation on 2013 Congressional Budget Office’s Long-Term Budget Outlook
NEW YORK — Michael A. Peterson, President and COO of the Peter G. Peterson Foundation, commented today following the release of the Congressional Budget Office’s Long-Term Fiscal Outlook for 2013:
“Our nation’s long-term debt remains as troubling as ever. Today’s report confirms that we have not addressed the fundamental drivers of our long-term structural deficits, and that we are still on a path to burden the next generation with an insurmountable level of debt. Congress and the President should use the upcoming fiscal debates to recommit themselves to building a framework that addresses this critical issue for our economy and the nation’s future.”
For a summary of the 2013 Congressional Budget Office’s Long-Term Budget Outlook, click here.
Further Reading
The Federal Government Has Borrowed Trillions. Who Owns All that Debt?
Most federal debt is owed to domestic holders, but foreign ownership is much higher now than it was about 50 years ago.
With $38 Trillion in Debt, Is the U.S. Headed for More Credit Downgrades?
Three successive downgrades of the U.S. credit rating should alarm elected leaders, but our national debt remains on an unsustainable trajectory.
The United States Is Adding to the National Debt Faster Than Ever
The nation’s debt is growing at a historic rate and eclipsing all-time highs.