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With the national debt surpassing $31 trillion, the next generation of American leaders is making its voice heard.
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With the national debt surpassing $31 trillion, the next generation of American leaders is making its voice heard.
“Interest costs are skyrocketing to record levels, damaging our nation’s budget, economy and future," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for November 2023.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-november-2023
Social Security, America’s essential public retirement program, is on a path to depletion in less than 10 years.
“As the national debt grows continually while the ceiling deadline inches closer, voters have an unprecedented level of concern about our fiscal outlook,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2023/05/fci-press-release
Washington is debating tax reform. There’s talk of substantial tax cuts that would give trillions of dollars back to American taxpayers. That might sound great to some. But if Congress doesn’t find a way to pay for those tax cuts, future generations will be stuck with the bill.
The answer to how to address the multitude of challenges and their disproportionate impact is to pay for it — set priorities and ensure there is revenue to meet those priorities — not through smoke and mirrors or budget gimmicks.
https://www.pgpf.org/expert-views/americas-fiscal-and-economic-outlook/debt-matters
Recent budget reforms have not significantly improved the nation’s long-term fiscal outlook, according to a report released today by the Peter G. Peterson Foundation.
“It’s a positive step to see proposals which raise the debt ceiling while also beginning to address our unsustainable fiscal outlook," said Michael A. Peterson.
https://www.pgpf.org/press-release/2023/04/peterson-foundation-statement-on-debt-ceiling-proposals
“Rather than engaging in partisan battles and fiscal brinksmanship, voters want their leaders to work together on real solutions to our national debt,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2023/09/fci-press-release