Peter G' Peterson Foundation Overview and Status

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The Blue Dog CoalitionFebruary 7, 2009 David
M. Walker President and CEO The Peter G. Peterson
Foundation and Former Comptroller General of the
United States
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Composition of Federal Spending
1968
1988
2008
Social Security
Medicare Medicaid
Defense
Net interest
All other spending
Source PGPF analysis of Office of Management and
Budget data.
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Federal Spending for Mandatory and Discretionary
Programs
1968
1988
2008
Discretionary
Mandatory
Net Interest
Source PGPF analysis of Office of Management and
Budget data.
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Major Fiscal Exposures( trillions)
Source PGPF analysis of 2000 and 2008 Financial
Report of the United States Government. Note
Totals may not add due to rounding. Estimates
for Social Security and Medicare are at present
value as of January 1 of each year and all other
data are as of September 30.
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How Big is OurGrowing Fiscal Burden?
This fiscal burden can be translated and compared
as follows
Source PGPF analysis of US Government
data. Notes (1) Federal Reserve Board, Flow of
Funds Accounts, Table B.100, 2008Q3 (December 6,
2008) (2) Burdens are calculated using estimated
total U.S. population as of 10/1/2008, from the
U.S. Census Bureau full-time workers reported by
the Bureau of Economic Analysis, in NIPA table
6.5D (Aug. 1, 2008) and households reported by
the U.S. Census Bureau, in Income, Poverty, and
Health Insurance Coverage in the United States
2006 (Aug. 2008 (3) U.S. Census Bureau, Income,
Poverty, and Health Insurance Coverage in the
United States 2006 (Aug. 2007) and (4) Bureau
of Economic Analysis, Personal Income and
Outlays, table 2, (Nov. 29, 2007).
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Potential Fiscal Outcomes Under Alternative
Simulation Revenues and Composition of Spending
as a Share of GDP
Percent of GDP
Revenue
Source GAO September 2008 analysis.
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The U.S. Federal Debt(Percentage of GDP)
Past
Civil War
SOURCE PGPF compilation. Projections based upon
official government sources.
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Foreign Ownership Share of Federal Debt Held by
the Public Has Increased
FY 2008 Total Debt Held by the Public 5.81
trillion
FY 1998 Total Debt Held by the Public 3.73
trillion
Foreign and international investors Federal
Reserve Domestic investors and state and local
governments
Source PGPF summary of Department of the
Treasury and Federal Reserve data. Note Totals
and percent increases may not add due to rounding
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Key National Indicators Where the United
States Ranks

• The United States may be the only superpower,
  but compared to most other OECD countries on
  selected key economic, social, and environmental
  indicators, on average, the U.S. ranks

17 OUT OF 28
Source PGPF analysis of 2007 OECD Factbook.
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The Way Forward
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These Challenges Go Beyond Numbers and
Dollars Its About