$5.3 Million in New Grants Announced by
Peter G. Peterson Foundation
Brings Total Grants Since Launch to $10.56M
Funding to support vital research, education and advocacy on nation’s growing fiscal challenges
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Elizabeth Wilner / Myra Sung
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NEW YORK (Nov. 13, 2008) - The Peter G. Peterson Foundation today announced its latest round of grants totaling $5.3 million, bringing its investments since its July 2008 launch to nearly $11 million.
This latest cycle of funding provided by the Foundation will enable vital research and analysis on rising health care costs, support a timely effort to inform the incoming presidential administration and Congress on how to best address the nation's sustainability issues, establish new public education campaigns about our growing fiscal challenges, and aid the continuing effort to safeguard our national security.
"President-elect Obama and the new Congress must tackle the growing fiscal crisis threatening our nation's future - but they cannot do it alone. It must be a collective effort involving all Americans. This is why the Peter G. Peterson Foundation, in addition to our own education and advocacy efforts, is injecting millions in new funding into vital third-party efforts to tackle these challenges," said David M. Walker, President and CEO of the Foundation.
"Our country's financial health is deteriorating and the symptoms are everywhere," Walker said. "If we do not address this soon, we face serious long-term economic hardships that will not only affect today's Americans, but future generations for years to come. Our federal government's current liabilities and unfunded promises - a total of $53 trillion as of September 30, 2007 - threaten to bankrupt us and rob our children and grandchildren of the future they deserve."
Earlier this year, the Peter G. Peterson Foundation announced its inaugural round of grants, totaling $5.27 million, which included $1.5 million to the Concord Coalition, $1 million to America's Promise Alliance, and $1 million to the Committee on Economic Development.
FOUNDATION GRANTS
With the Peter G. Peterson Foundation assistance:
The Center for the Study of the Presidency will continue to organize and execute a Comprehensive Net Assessment (CNA) to help inform President-elect Barack Obama and members of Congress on how to address the nation's most urgent challenges and address key sustainability issues facing the country. The Center is receiving a grant of $700,000.
The Institute of Medicine (IOM) will seek to define opportunities to reduce the costs of health care in the United States by hosting a series of meetings at the National Academies aimed at: (a) fostering insight and agreement on the most important elements of value in health care; (b) reducing waste and inefficiency in the health care system; and (c) improving the focus on delivering care proven to work. IOM is receiving a grant of $945,000.
The Institute for Advanced Policy Solutions at Emory University will conduct research and analysis related to health care in order to (a) outline the factors responsible for the rise in federal entitlement spending; (b) link new approaches in financing, payment and care delivery for achieving better value (lower costs with the same or better outcomes) based on factors driving higher spending; and (c) present the options to key policy makers in the U.S. Congress and White House, along with state-level governments, business leaders, the public and the media. The Institute is receiving a grant of $600,000.
The Common Good Institute, in partnership with NewTalk.org, will support the development and operation of NewTalk.org's series of online conversations about America's fiscal future and a broader but related conversation regarding entitlement reform. NewTalk.org's format, topics and expert participants are geared towards influencing the public discussion and ultimately forcing political candidates and leaders to embrace tough, but responsible policy choices. The Common Good Institute is receiving a grant of $45,000 for this effort.
Earlier this year, the Foundation also gave $3 million to the Nuclear Threat Initiative to establish the World Institute for Nuclear Security, a new international organization to help nuclear security practitioners implement more effective and efficient security programs for nuclear materials in use, storage, and transit.
About the Peter G. Peterson Foundation:
Founded by the senior chairman of The Blackstone Group with a personal commitment of at least $1 billion, the Foundation is dedicated to increasing public awareness of the nature and urgency of key fiscal challenges threatening America's future, and to accelerating action on them. To address these challenges successfully, we work to bring Americans together to find sensible, long-term solutions that transcend age, party lines and ideological divides in order to achieve real results.
