Peterson Foundation Statement on Government Shutdown
Peterson Foundation Statement on Government Shutdown
NEW YORK — Michael A. Peterson, CEO of the Peter G. Peterson Foundation, commented today in response to the government shutdown:
“It’s highly unfortunate that we are experiencing yet another government shutdown. Shutdowns not only interrupt federal programs and services, but they are harmful to the economy and waste time and money.
“Even after these final budget details are resolved, Washington seems content to spend a billion dollars a day on interest alone, and add $20 billion to our debt every single week. Instead of governing by crisis and brinksmanship, our leaders should work collaboratively to address the major structural challenges in our budget. We must do so in order to create the stable fiscal and economic path that all Americans deserve.”
Further Reading
Fed Holds Rates as Interest Costs on the National Debt Top $1 Trillion
High interest rates on U.S. Treasury securities increase the federal government’s borrowing costs.
Most Get More from Social Security and Medicare Than They Pay In
Understanding lifetime tax and benefit payments, and how those lifetime balances vary, can help policymakers better target reforms to ensure the programs can be sustainable for decades to come.
9 Facts About Social Security and the Need to Strengthen It
Social Security is an essential program for millions of Americans, but it’s at risk if lawmakers fail to take action to reform the program.