Statement on the 2013 Federal Government Shutdown
Statement on the 2013 Federal Government Shutdown
NEW YORK — Michael A. Peterson, president and chief operating officer of the Peter G. Peterson Foundation, released the following statement this morning responding to the government’s shutdown, which took effect on Tuesday, October 1st:
“Shutting down the government is a disappointing and unfortunate step in the wrong direction. Government-by-crisis gets us no closer to finding a solution to the real threat to our economy: our long-term structural deficits. Congress and the President should find a way through this immediate fiscal and political chaos, which is hurting our fragile economic recovery. Once they do, they should re-commit themselves to developing a comprehensive bipartisan plan to finally put the nation on a sustainable fiscal path.”
Further Reading
No Tax on Social Security Would Weaken both Social Security and Medicare
Republicans in Congress are considering several new tax cuts that would reduce federal revenues by trillions of dollars over the next decade.
The United States Spends More on Defense than the Next 9 Countries Combined
Defense spending by the United States accounted for nearly 40 percent of military expenditures by countries around the world in 2023.
The President’s “Skinny Budget” Reallocates Priorities for Appropriations
The first budget from the first year of a new Administration is an important statement of budgetary priorities.