Thursday, January 21, 2016
Peterson Quoted on Congress Not Cutting Government Deficits
For six straight years, Americans watched their government's borrowing shrink.
Then last month, that trend towards less and less borrowing suddenly came to an end. Congress overwhelmingly passed a federal budget that included a $680 billion tax-cut package, which President Obama signed.
Now the nonpartisan Congressional Budget Office says the federal deficit is set to jump 24 percent, to $544 billion, in this fiscal year. That's up from last year's $439 billion deficit. . .
Michael Peterson, CEO of the anti-debt Peter G. Peterson Foundation, said in a statement that the CBO figures show "we remain on a dangerous debt path." . . .