Peter G. Peterson on His Participation in the Giving Pledge
“The cause of my life is to help ensure that future generations — our children and grandchildren — have access to the same opportunities that I have had. I’ve been very lucky in my life as the son of poor immigrants; I’ve had more success than I could have imagined. In 2007, I decided to commit a billion dollars to the Peter G. Peterson Foundation to address fiscal challenges I believe are undeniable, unsustainable, and politically speaking, untouchable. I set up this foundation to try to make a difference for all of us but particularly our children, so that generations to come can realize the American dream as I did.”
Further Reading
What Is Stagflation, and How Would It Affect the National Debt?
Stagflation is rare, but when it does happen, it can have significant negative consequences for the economy and the national debt.
Budget Basics: Federal Trust Funds
Federal trust funds bear little resemblance to their private-sector counterparts.
What Are Interest Costs on the National Debt?
Interest costs are on track to become the largest category of spending in the federal budget.