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“Earlier this month, the Congressional Budget Office released new data showing that interest costs in 2024 will total a staggering $870 billion, a jump of 32 percent and more than $2 billion per day,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2024/02/fci-press-release
Higher short- and long-term Treasury rates mean that the federal government's borrowing costs will also rise.
The results of the Peterson Foundation’s Solutions Initiative III are in: researchers from five leading think tanks agree that there are many ways to stabilize the nation’s long-term debt.
The more important question for fiscal policy is what happens when monetary policy normalizes.
"As lawmakers debate significant reforms, our growing deficits should be a factor in every policy conversation," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
“Democratic and Republican voters know that this level of fiscal irresponsibility carries a huge economic risk,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2023/04/fci-press-release
Highlighting state-level efforts to solve structural deficit problems. While most discussions on America's fiscal policy focus on the federal level, state governments also face daunting budget challenges.
https://www.pgpf.org/pgpf-programs-and-projects/state-fiscal-leaders
The Peter G. Peterson Foundation launched the Fiscal Confidence Index to help policymakers, members of the media, and everyday Americans gauge public opinion on the nation’s fiscal and economic challenges.
https://www.pgpf.org/what-we-are-doing/education-and-awareness/fiscal-confidence-index