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“On the heels of the first meaningful deficit reduction initiative in years in the Inflation Reduction Act, it’s highly irresponsible, unfortunate and unwise to wipe out those fiscal benefits with this announcement," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
Over the next 10 years, the spending caps are projected to reduce deficits by approximately $900 billion, and the Supercommittee is charged with finding $1.5 trillion of additional savings.
https://www.pgpf.org/analysis/long-term-implications-of-the-budget-control-act-of-2011
“This report makes it painfully clear that our unsustainable fiscal challenges have now been accelerated. The sad truth is that our national debt now equals the size of our entire economy,” said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
https://www.pgpf.org/press-release/2020/09/peterson-statement-on-cbo-report
The budget projections from the Congressional Budget Office (CBO) in August reaffirm the perilous path of deficits and debt expected over the next decade.
Reconciliation provides for expedited consideration of certain legislation; its use is particularly important in the Senate because it limits the time allowed for debate and prevents the inclusion of non-budgetary provisions.
https://www.pgpf.org/budget-basics/what-is-budget-reconciliation
Although the President's budget would make progress by reducing deficits and stabilizing the debt over the next ten years, federal debt would remain high by historical standards.
https://www.pgpf.org/analysis/summary-of-cbos-analysis-of-the-presidents-budget-for-fiscal-year-2014
Student debt is one of the biggest challenges young people will face as they prepare to enter adulthood, and is often their first encounter with debt.
Following the recent government shutdown and debt ceiling standoff, and as the Budget Conference Committee gathers, a new poll released today finds that a majority of voters in both parties are willing to give ground on key issues in order to achieve a much desired, long-term fiscal solution.
mtvU, MTV’s 24-hour college network, and the Peter G. Peterson Foundation today unveiled "Debt Ski," an online flash-video game that spotlights the dangers of excessive debt, challenges young people to avoid destructive financial behavior, and spurs fiscally responsible action.
https://www.pgpf.org/press-release/2009/04/viral-video-game-to-promote-financial-responsibility
The projects, which address problems ranging from mental health to food security to the impact on K-12 education, will receive $643,029 in research support from a new Peterson Foundation fund.