Although a reduction in the federal deficit of $1.4 trillion would keep U.S. debt stable through 2022, it would fall short of the what is needed for the long term, the Committee for a Responsible Federal Budget said Wednesday.

“To be sure, $1.4 trillion of deficit reduction would be a very welcome package of savings, but would almost certainly need to be followed with additional deficit reduction in order to put the debt on a truly sustainable path,” CRFB said on its blog page.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.