Statement on CBO’s Updated Budget and Economic Outlook
"Today’s CBO report confirms that the era of declining deficits is over," according to Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
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"Today’s CBO report confirms that the era of declining deficits is over," according to Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
The Financial Times and the Peterson Foundation have wrapped up a year-long initiative to track voter sentiment on economic and fiscal issues.
The end of the supercommittee doesn’t mean the end of the fiscal policy debate in Washington.
"CBO makes clear that America’s fiscal outlook over the long term remains unsustainable and threatens our economy."
Although the debt affects each of us, it may be difficult to put such a large number into perspective and fully understand its implications.
https://www.pgpf.org/infographic/the-national-debt-is-now-more-than-35-trillion-what-does-that-mean
The outlook for the federal budget has worsened considerably since last year.
https://www.pgpf.org/blog/2016/01/three-takeaways-from-cbos-budget-and-economic-outlook
CBO projects that federal debt will remain at historically high levels over the next decade under current laws and warns that such high levels of debt could harm the economy.
https://www.pgpf.org/analysis/cbo-warns-fiscal-path-is-unsustainable-and-threatens-economic-growth
“The Solutions Initiative 2024 shows that there is widespread agreement that America’s fiscal challenges are both unsustainable and solvable, and we have many good options to chart a brighter future for our country," said Michael A. Peterson.
CBO Director Phillip Swagel joined Peter G. Peterson Foundation CEO Michael Peterson for a discussion of this new report a day after its release.
The nonpartisan Congressional Budget Office projects that the federal debt could reach 175% of GDP by 2040.
https://www.pgpf.org/analysis/congressional-budget-offices-2015-long-term-budget-outlook