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Chairman Paul Ryan's budget aims to shrink the size of government to about 20 percent of gross domestic product (GDP) in 2015 and to 15 percent of GDP in 2050.
PAYGO is a budget enforcement mechanism intended to prevent passage of legislation that increases deficits.
“It’s unfortunate that even the Committee’s draft package of modest recommendations failed to advance. Significant work remains to address America’s fiscal challenges and the Committee’s proposals could have been a small step in the right direction to improve our budget process." Michael A. Peterson, CEO of the Peter G. Peterson Foundation, said.
As Congress returns from their break, here are the issues and key points to keep in mind this fall.
https://www.pgpf.org/infographic/infographic-welcome-back-congress
The PGPF summary closely examines the key areas of the latest federal financial statement, including: the economy, the budget, the debt, challenges ahead, and the economic recovery.
https://www.pgpf.org/analysis/summary-of-the-2009-financial-report-of-the-us
The latest Financial Times-Peterson Foundation US Economic Monitor, released on August 18, 2020, reveals voter concerns on a range of complex policy challenges surrounding the pandemic, reopening schools and vaccine availability.
“This new rules package includes important reforms that can help encourage fiscal responsibility." Michael A. Peterson, CEO of the Peter G. Peterson Foundation, said.
The latest Financial Times-Peterson Foundation US Economic Monitor reveals that the coronavirus pandemic is financially impacting the vast majority of Americans, and there is broad-based support for federal response measures.
A newly released poll by the Peter G. Peterson Foundation shows that voters overwhelmingly support bipartisan action to reduce our national debt, and are willing to make personal sacrifices to help achieve that goal. These responses paint a stark contrast with the political gridlock and polarizing rhetoric that we have seen in Washington recently — and are likely to see during the 2012 election cycle.
There is one cap for national defense and another cap for non-defense programs.