After the Supercommittee, Fiscal Policy Questions Still Have to be Addressed
The end of the supercommittee doesn’t mean the end of the fiscal policy debate in Washington.
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The end of the supercommittee doesn’t mean the end of the fiscal policy debate in Washington.
Portman, Panetta, Heitkamp, Zandi and others call for bipartisan fiscal commission, outlining spending and revenue reforms to stabilize the debt.
A group of respected policy experts share their views on how a bipartisan fiscal commission could help break the cycle of governing by crisis.
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 new CBO report shows just how much more dangerous the future looks if these tax cuts and spending increases are allowed to continue," said Michael A. Peterson, Chairman and CEO of the Peter G. Peterson Foundation.
This is the moment to strengthen the social insurance system and to enact an ambitious federal investment package, while raising tax revenue and cutting back on spending in ways that would largely offset those costs.
“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
In around six years, the national debt will likely exceed its all-time high of 106 percent of gross domestic product (GDP), which occurred in 1946.
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
Inflation and interest rates will have important impacts on the long-term federal budget outlook.