Statement from Foundation President & COO Michael A. Peterson on This Week's Release of House and Senate Budget Proposals
Michael A. Peterson releases a statement on this week's releases of House and Senate budget proposals.
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Michael A. Peterson releases a statement on this week's releases of House and Senate budget proposals.
Federal debt is already at its highest level since 1950 and is projected to climb to 152 percent of GDP under current law by 2048 — by far an all-time high.
https://www.pgpf.org/blog/2018/06/four-key-takeaways-from-the-cbo-2018-long-term-outlook
The U.S. spent $187 billion on interest payments alone in 2009.
The Unemployment Insurance program is a key counter-cyclical tool to help stabilize the economy and speed recovery during downturns or crises.
https://www.pgpf.org/budget-basics/budget-basics-unemployment-insurance-explained
Understanding what’s happening on Capitol Hill requires an understanding of the Congressional budget process — which is notoriously technical, complex and arcane.
The federal debt is on an unsustainable path
Economists generally agree that public investment in infrastructure has a positive effect on productivity, and therefore on gross domestic product.
https://www.pgpf.org/blog/2018/04/president-trumps-infrastructure-plan-a-closer-look
One of the most fundamental responsibilities of the federal government is to set and pass a budget every year, allocating funding towards the nation’s needs and priorities.
“As lawmakers address funding the budget and avoiding a government shutdown, Americans believe that our nation’s fiscal outlook is a critical priority,” said Michael A. Peterson, Chairman and CEO of the Peter G. Peterson Foundation.
https://www.pgpf.org/press-release/2018/08/fci-press-release
The survey finds that voters across party lines are calling for the President to put forward plans to reduce the national debt.