The Macroeconomic Gains from Stabilizing and Reducing Federal Debt
By making gradual changes to federal spending and revenue, lawmakers can not only stabilize our fiscal outlook, but also provide long-run economic benefits.
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By making gradual changes to federal spending and revenue, lawmakers can not only stabilize our fiscal outlook, but also provide long-run economic benefits.
"The Senate has squandered an opportunity to pass fiscally responsible tax reform," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
“Our high and rising debt makes us less prepared for the next pandemic, less secure against future adversaries, less resilient to the changing climate, and less able to build the strong," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
Donald Trump entered office with the highest level of debt to GDP of any incoming president since Harry Truman.
https://www.pgpf.org/infographic/infographic-the-national-debt-and-our-economy
“This CBO score is the latest evidence that this bill needs to be improved as it moves through the legislative process," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
“Another round of tax cuts financed with borrowed money is doubling down on fiscal irresponsibility," said Michael A. Peterson, Chairman and CEO of the Peter G. Peterson Foundation.
https://www.pgpf.org/press-release/2018/09/peterson-foundation-statement-on-new-round-of-tax-cuts
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for October 2021.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-october-2021
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for November 2021.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-november-2021
These projections provide fresh evidence that the nation’s fiscal policy is on an unsustainable course and changes in policy will be needed.
“The unfortunate milestone of $29 trillion in debt is a stark reminder that our nation’s fiscal foundation is insecure and unsustainable." said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.