CPPPE Publications

The federal government faces daunting long-term fiscal challenges that jeopardize
delivery of essential programs and services. In its December 2012 report, The Moment of
Truth, the bi-partisan National Commission on Fiscal Responsibility and Reform
(Simpson-Bowles) concluded that “The problem is real. The solution will be painful.
There is no easy way out. Everything must be on the table” (p. 6). State and local
governments also face significant fiscal pressure. Absent major policy changes,
expenditures will continue to outpace revenues, resulting in growing negative balances
that threaten many jurisdictions’ ability to provide services, and invest in much-needed
infrastructure.