By The Peter G. Peterson Foundation, September 2012
Having an informed, honest political debate about our nation’s fiscal challenges has never been more important than it is today. Our nation’s debt is currently at 70% of GDP. Under our current policies it will hit 90% of GDP by 2022 and soar to beyond 200% of GDP in the next 30 years. Many economists agree that debt-to-GDP should be 60% or less and that levels above 90% can be risky to economic growth. With the “Fiscal Cliff” approaching, our elected leaders will have an enormous opportunity to create meaningful policy reform.
The Peter G. Peterson Foundation’s State of the Union’s Finances is an all-in-one guide to help you get up to speed on important fiscal policy matters before you head to the ballot box. The guide offers a detailed look at current spending — including Social Security, major health care programs, and defense — as well as government revenues. You’ll have a deeper understanding of the real, long-term fiscal challenges America faces and the questions that should be addressed to help us get on the path to a sustainable fiscal future.