Expert Views: Fiscal Commission
We asked respected policy experts from across the ideological spectrum to share their views on why a commission is needed, how it should be structured, and which policies could help stabilize the debt.
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We asked respected policy experts from across the ideological spectrum to share their views on why a commission is needed, how it should be structured, and which policies could help stabilize the debt.
The federal government is slated to borrow about $1.9 trillion this year, and that annual shortfall is projected to grow to $2.9 trillion by 2034.
The Foundation engages in a wide range of activities to educate and engage Americans, and raise awareness of the fiscal and economic challenges facing our nation.
https://www.pgpf.org/what-we-are-doing/education-and-awareness
Discover why our fiscal health and economic strength are so closely tied, and why it is important to get the deficit under control and work toward a balanced budget.
Waiting to act raises the cost of stabilizing the debt.
Our fiscal situation was already unsustainable, but COVID-19 certainly did not help. Learn how the pandemic compounded our financial challenges in 13 charts.
https://www.pgpf.org/blog/2020/12/13-charts-that-tell-the-fiscal-story-of-2020
The latest budget outlook released by CBO is the first to fully capture the budgetary impact of the pandemic.
“Today’s CBO report confirms that major damage was done to our fiscal outlook in just the past few months," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
According to the Joint Committee on Taxation, the provisions in this agreement will add $857.8 billion to the deficit by 2020.
https://www.pgpf.org/analysis/2010/12/compromise-tax-framework-agreement
In around six years, the national debt will likely exceed its all-time high of 106 percent of gross domestic product (GDP), which occurred in 1946.