CBO Warns: Fiscal Outlook Remains Unsustainable
Under current law, federal debt is now projected to reach 150 percent of GDP within 30 years — by far an all-time high.
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Under current law, federal debt is now projected to reach 150 percent of GDP within 30 years — by far an all-time high.
The coronavirus (COVID-19) pandemic is an unprecedented national emergency requiring a significant federal response. This page provides resources and analysis, tracking the actions our leaders are taking to respond, and providing insights on the state of America’s fiscal and economic outlook during the recovery.
These charts tell the fiscal story of 2021 — looking back at how our fiscal situation deteriorated over the past year and what challenges lie ahead.
While this budget would be a step in the right direction, it does not adequately address the underlying structural imbalance that defines our fiscal outlook.
Over the last four decades, federal grants to state and local governments have made up about 17 percent of their total revenues.
With the national debt at $26 trillion and counting, the nation’s fiscal health is a key issue for the 2020 campaign.
In 2008, the Peter G. Peterson Foundation was established with the goal of preserving the American Dream for the next generation. My father saw our high and rising debt as a transcendent threat to our future economy – posing a risk to every American, and our leadership role in the world.
One of the first questions at last night’s debate was about the national debt, and for good reason.
https://www.pgpf.org/blog/2024/06/presidential-debate-highlights-fiscal-election
"The deficit has essentially doubled in just one year. That’s very alarming, but the fact that the deficit grew so much during a time of economic growth is an even more serious warning sign for our nation’s future."
https://www.pgpf.org/press-release/2023/10/peterson-foundation-statement-as-deficit-soars
Highlighting state-level efforts to solve structural deficit problems. While most discussions on America's fiscal policy focus on the federal level, state governments also face daunting budget challenges.
https://www.pgpf.org/pgpf-programs-and-projects/state-fiscal-leaders