Analysis: CBO August 2012 Update
The nonpartisan Congressional Budget Office has released a mid-year update to its projections of the nation’s federal finances and economic health.
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The nonpartisan Congressional Budget Office has released a mid-year update to its projections of the nation’s federal finances and economic health.
An analysis of the findings, and the official Foundation statement from President and CEO Michael A. Peterson.
https://www.pgpf.org/blog/pgpf-analysis-statement-on-cbo-january-2016-budget-economic-outlook
Under current law, federal debt is now projected to reach 150 percent of GDP within 30 years — by far an all-time high.
Michael A. Peterson releases a statement on the Congressional Budget Office's budget and economic outlook.
The Peter G. Peterson Foundation releases a statement on CBO outlook.
The Peter G. Peterson Foundation’s 2011 Fiscal Summit featured results from the Foundation’s Solutions Initiative and sparked ongoing conversations between thought leaders and policymakers about bipartisan solutions to our nation’s long-term fiscal challenge.
Under the president’s budget, federal debt will remain historically high, roughly double its average over the past 50 years.
https://www.pgpf.org/analysis/presidents-budget-not-enough-to-solve-our-long-term-fiscal-challenges
In 2008, the Peter G. Peterson Foundation was established with the goal of preserving the American Dream for the next generation. My father saw our high and rising debt as a transcendent threat to our future economy – posing a risk to every American, and our leadership role in the world.
"Reaching $20 trillion in debt should be a wake-up call to solve our fiscal challenges, not an invitation to add to the problem," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
There will be a number of consequences from a gradual increase in the federal funds rate over time.