Deficits are Back on the Rise
CBO projects that the federal budget deficit will increase as a share of GDP for the first year since 2009.
https://www.pgpf.org/analysis/2016/08/CBO-deficits-are-back-on-the-rise
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CBO projects that the federal budget deficit will increase as a share of GDP for the first year since 2009.
https://www.pgpf.org/analysis/2016/08/CBO-deficits-are-back-on-the-rise
The Fed is not in the business of monetizing our government’s debt but is skating close to the edge, which has upped the risk of a misstep.
By making gradual changes to federal spending and revenue, lawmakers can not only stabilize our fiscal outlook, but also provide long-run economic benefits.
“There’s nothing that matters more right now to our physical, fiscal and economic health than defeating this virus,” said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
https://www.pgpf.org/press-release/2020/07/peterson-foundation-statement-on-the-trust-act
A range of coverage & analysis looking at what this news means for America's long-term fiscal outlook
https://www.pgpf.org/blog/2016/01/recommended-reading-cbo-highlights-the-return-to-rising-deficits
“While the most important national priority right now is addressing the significant health and economic impact caused by coronavirus, we all also understand that this crisis has enormous costs and impact on our fiscal position,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2020/04/fci-press-release
"The Senate has squandered an opportunity to pass fiscally responsible tax reform," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
While deficits will decline over the next few years as the pandemic wanes and the economy recovers, the nation will remain on an unsustainable fiscal trajectory due to a structural mismatch between spending and revenues.
Heading into 2020, the vast majority of Americans are urging leaders in Washington to address the unsustainable national debt and budget deficit.
https://www.pgpf.org/blog/2019/12/do-voters-care-about-the-national-debt-the-polls-say-they-do
The total cost of the Tax Cuts and Job Act is estimated to be $1.7 trillion between 2018 and 2027.
https://www.pgpf.org/blog/2017/11/what-the-interest-on-deficit-funded-tax-legislation-would-cost