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Michael A. Peterson's Op-Ed in Politico: On Budget, 10 Is Not Enough
The Peter G. Peterson Foundation is a non-partisan, non-profit organization dedicated to addressing America’s long-term fiscal challenges to ensure a better economic future. Our mission is to increase public awareness of the nature and urgency of key fiscal challenges threatening America’s future and to accelerate action on them.
Coming up next week from Washington DC: The 2014 Fiscal Summit: Our Economic Future. The fifth annual Summit, sponsored by the Peterson Foundation, will bring together leading experts and policymakers to outline their vision for building a vibrant economy for all Americans, addressing our long-term fiscal challenges, and securing critical investments in our future.
New Fiscal Year, Same Fiscal Problems: Michael Peterson's op-ed in Roll Call
This summer, the Congress passed and the president signed the Budget Control Act of 2011 (BCA) that put in place a process for reducing the deficit. The BCA imposed caps on future discretionary spending and empowered a bipartisan, bicameral committee (the “Supercommittee”) to identify additional deficit reduction by Thanksgiving. Over the next 10 years, the spending caps are projected to reduce deficits by approximately $900 billion, and the Supercommittee is charged with finding $1.5 trillion of additional savings.
We are former senior government officials who have served during eight Presidential administrations, Democratic and Republican, and former leaders in Congress from both parties. We join together now because we strongly believe that our long-term debt is the single greatest threat to our national security, and we urge elected leaders to agree by the end of this year on a plan that both averts the fiscal cliff and puts the debt on a downward path.
NEW YORK — The Peter G. Peterson Foundation will convene the 2014 Fiscal Summit: Our Economic Future on Wednesday, May 14, 2014, at the Andrew W. Mellon Auditorium in Washington, DC. The fifth annual Fiscal Summit will bring together leading experts and policymakers to outline their vision for building a vibrant economy for all Americans, addressing our long-term fiscal challenges, and securing critical investments in our future.
Video: A Strong Fiscal Foundation for Economic Growth