In 2011, the Peter G. Peterson Foundation launched the Solutions Initiative, which convened policy organizations from across the ideological spectrum to develop plans to achieve long-term fiscal sustainability through the year 2035. This year, to better inform the debate over the fiscal cliff and America's economic future, the Foundation asked five organizations to participate in a second phase of the Solutions Initiative, addressing near-term fiscal challenges and offering updated long-term plans.

The results of the Solutions Initiative II will be presented this week at Post-Election: The Fiscal Cliff and Beyond, a special forum convened by the Foundation. The full Solutions Initiative II report is available for download below, along with each contributing organization's plan.

The organizations involved — the American Action Forum, the Bipartisan Policy Center, the Center for American Progress, the Economic Policy Institute, and The Heritage Foundation — have proposed specific measures for resolving the fiscal cliff impasse and putting the nation on a sustainable long-term fiscal path. They have also identified and analyzed potential obstacles to achieving a budget deal and implementing their plans. And each organization has recommended top policy priorities for the 113th Congress and the incoming presidential administration.

This second phase of the Solutions Initiative shows once again that progress on our fiscal challenges — both near term and long term — is possible. Although the solutions vary widely, it is clear that the United States does not have to endure a damaging drop off the edge of the fiscal cliff, nor do we have to be complacent in the face of an unsustainable long-term trajectory. Our nation can rise above its current challenges and lay a foundation for a prosperous economy for generations to come.

Click here to read the full report (PDF)

Click here for the Solutions Initiative II Briefing Paper (PDF)