The Longer We Wait to Stabilize the National Debt, the More Difficult It Will Be
The national debt is on an unsustainable path and the longer policymakers wait to take action, the more of a burden that debt will have on future generations.
The search found 1190 results in 0.313 seconds.
The national debt is on an unsustainable path and the longer policymakers wait to take action, the more of a burden that debt will have on future generations.
The results of the national survey, commissioned by the Foundation and released today, show that amidst the current economic crisis, there is strong consensus about the fundamental importance of the country's sustained fiscal health, and that Americans place a high priority on tackling the federal government's growing budget deficit and debt.
“As the national debt races toward $34 trillion, policymakers remain mired in short-term budget battles that do nothing to improve our fiscal outlook,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2023/11/fci-press-release
Proposals such as a regulatory restructuring of repayment plans and cancellation of student debt through personal bankruptcy or other means have been offered as reforms to address the growing student debt burden.
https://www.pgpf.org/blog/2022/06/how-does-student-debt-affect-the-economy
GAO projects that debt held by the public could more than double over the next 30 years — rising from around 100 percent of gross domestic product (GDP) at the end of fiscal year 2021 to 217 percent in 2050.
The latest Financial Times-Peterson Foundation US Economic Monitor, released on July 7, 2020, reveals timely data about Americans’ deep concerns about the health and economic effects of the coronavirus (COVID-19) pandemic.
One issue that most lawmakers and voters agree on is that our tax system needs reform.
https://www.pgpf.org/infographic/how-the-us-tax-system-works
“Across party lines, vast majorities of voters believe that divided government brings an important responsibility for our leaders to work together to secure our fiscal future,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2023/01/fci-press-release
“It’s very encouraging to see bipartisan, bicameral support for a fiscal commission to recommend solutions to our $33 trillion and growing national debt."
Driven by rising interest rates and the accumulation of federal debt, interest will nearly triple in the next 10 years and reach a historic high relative to the size of the economy by 2032.