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“As troubling as this year’s deficit is, it’s just the beginning of large and growing deficits as far as the eye can see," Michael A. Peterson, Chairman and CEO of the Peter G. Peterson Foundation, said.
If all of the proposals in the budget were adopted, government debt would still soar to unsustainable levels in the long run, even under the optimistic assumptions used in the administration’s long-run projections.
A range of coverage & analysis looking at what this news means for America's long-term fiscal outlook
https://www.pgpf.org/blog/2016/01/recommended-reading-cbo-highlights-the-return-to-rising-deficits
How do the House Budget and the President’s Budget differ?
The defense share of the federal budget has averaged 21 percent over the past two decades.
Policymakers should build on the bipartisanship of this Act to work towards passing fiscal reforms that will put our nation on a sustainable fiscal path.
https://www.pgpf.org/analysis/understanding-the-bipartisan-budget-act-of-2015
“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.
“The Biden Administration has put forward thoughtful proposals aimed at creating jobs for working- and middle-class families, increasing our global competitiveness, and addressing important national priorities like infrastructure, climate change, and racial equity," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
Reform that eliminates virtually all tax expenditures allows for rates to be lowered significantly.
