Statement by Michael A. Peterson, Vice Chairman of the Peter G. Peterson Foundation, on Congressional Budget Office Outlook - August 2011
The Peter G. Peterson Foundation releases a statement on CBO outlook.
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The Peter G. Peterson Foundation releases a statement on CBO outlook.
“By any measure, the state of the Union’s fiscal outlook is unsustainable, and getting worse,” said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
With our economy in recovery, our debt rising unsustainably, and our nation still grappling with a devastating pandemic, America faces many critical questions for its future. Where do we go from here?
At the end of May, the nonpartisan Congressional Budget Office (CBO) released new projections of the nation’s fiscal and economic outlook, their first report since July 2021.
https://www.pgpf.org/blog/2022/06/8-startling-facts-about-the-us-fiscal-outlook
“Addressing our nation’s unprecedented and unsustainable debt is critical to securing a strong, growing economy of the future,” said Pete Peterson, Founder and Chairman of the Peter G. Peterson Foundation.
https://www.pgpf.org/press-release/2017/05/2017-fiscal-summit-press-release
Public schools for students in kindergarten through 12th grade are financed through a combination of local, state, and federal dollars in proportions that vary across and within states.
https://www.pgpf.org/budget-basics/how-is-k-12-education-funded
“Voters are deeply concerned about the rising national debt, and tonight’s presidential debate is an important opportunity for the candidates to talk about their plans to stabilize our future," said Michael A. Peterson.
https://www.pgpf.org/press-release/2024/06/fci-press-release
The Peter G. Peterson Foundation on the Congressional Budget Office outlook.
“The national debt is already $34 trillion, but as it grows over the next three decades, we’ll spend more than double that on interest alone,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2024/03/fci-press-release
CBO projects that federal debt will climb to 141 percent of GDP within 30 years — exceeding the highest level of debt ever recorded at the end of World War II by a large margin.