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The federal deficit is growing during a period of economic expansion — a pattern that is highly unusual.
https://www.pgpf.org/blog/2018/12/the-risks-of-running-up-deficits-when-the-economy-is-good
The Peterson Foundation releases a statement on the deal to end the government shutdown.
“It’s unfortunate that even the Committee’s draft package of modest recommendations failed to advance. Significant work remains to address America’s fiscal challenges and the Committee’s proposals could have been a small step in the right direction to improve our budget process." Michael A. Peterson, CEO of the Peter G. Peterson Foundation, said.
The Peter G. Peterson Foundation today launched a multi-platform online awareness campaign spotlighting the federal government's $56.4 trillion in financial obligations and unfunded promises.
https://www.pgpf.org/press-release/peterson-foundation-launches-tax-day-awareness-campaign
“This new rules package includes important reforms that can help encourage fiscal responsibility." Michael A. Peterson, CEO of the Peter G. Peterson Foundation, said.
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for September 2018, which includes data for all of Fiscal Year 2018.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-september-2018
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.
By 2050, the US will be very different than it is today. Adults aged 65 and over will outnumber children under the age of 18, and our population will be much more racially and ethnically diverse, the young much more so than the old. With those changing demographics as a backdrop, the US 2050 project examines the socioeconomic developments and fiscal choices we make today that will determine standards of living decades from now.
The president's budget misses an opportunity to address the structural causes of our debt and relies instead on overly optimistic economic assumptions.
“This shutdown has negatively affected the lives of millions of Americans, disrupted essential government services, and unnecessarily harmed the economy." Michael A. Peterson, CEO of the Peter G. Peterson Foundation, said.