The nation's long-term fiscal outlook hasn't significantly improved
following the recent agreement between Congress and the White House over
tax and spending issues, according to a new analysis.
The "fiscal
cliff" deal, combined with the debt-limit agreement of August 2011,
only slightly delays the United States reaching debt-to-gross domestic
product levels that would damage the economy and risk another fiscal
crisis, according to a report from the Peter G. Peterson Foundation released on Tuesday.
The agreement "may have prevented the immediate threats that the fiscal
cliff posed to our fragile economic recovery, but we haven’t remotely
fixed the nation’s debt problem," said Michael A. Peterson, president
and COO of the Peterson Foundation.
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