Peterson Foundation Statement on Fiscal Commission Legislation
“It’s very encouraging to see bipartisan, bicameral support for a fiscal commission to recommend solutions to our $33 trillion and growing national debt."
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“It’s very encouraging to see bipartisan, bicameral support for a fiscal commission to recommend solutions to our $33 trillion and growing national debt."
There are many critical differences between our two nations, but are there lessons to be learned by US policymakers from the UK predicament?
https://www.pgpf.org/blog/2022/10/does-uk-crisis-hold-fiscal-economic-lessons-for-us-policymakers
“The coronavirus outbreak is an unprecedented national emergency, and we need to respond aggressively to address both the public health crisis and the economic risk,” said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
Debt rises and falls with wars and changes in the economy. Debt is currently at its highest level since 1946.
Debt levels have risen in many sectors of the economy.
The U.S. national saving rate has declined significantly since the mid-1960s.
Despite recent declines, U.S. household debt is still very high relative to disposable income.