Op-Ed: On Budget, 10 Is Not Enough
Michael A. Peterson writes an op-ed for POLITICO about the 10-year outlook on deficits.
https://www.pgpf.org/press-release/op-ed-on-budget-10-is-not-enough
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Michael A. Peterson writes an op-ed for POLITICO about the 10-year outlook on deficits.
https://www.pgpf.org/press-release/op-ed-on-budget-10-is-not-enough
Peter G. Peterson releases a statement on reports of supercommittee failure to reach an agreement.
Controlling our structural budget deficits will require major changes in budget policy.
https://www.pgpf.org/budget-basics/state-of-the-unions-finances/the-elements
If taxes are not increased or spending is not cut, CBO projects that interest costs will climb and federal debt will grow to levels that will damage our economy.
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.
If all of the proposals in the budget were adopted, government debt would still soar to unsustainable levels in the long run, even under the optimistic assumptions used in the administration’s long-run projections.
Pete Peterson Joins President Clinton and Others to Discuss Jobs, the Economy and America’s Long-Term Fiscal Challenges.
These projections provide fresh evidence that the nation’s fiscal policy is on an unsustainable course and changes in policy will be needed.
Highest ranking economic officials from both parties foresee another U.S. economic crisis within 10 years unless the country takes immediate action on structural deficit.
The U.S. spent $187 billion on interest payments alone in 2009.