Statement by PGPF on President Obama's Executive Order Creating a Fiscal Commission

"Now that President Obama has issued an executive order establishing a bipartisan Fiscal Commission, it is time for Republicans and Democrats in Washington to live up to their responsibilities as elected leaders by working together to address our nation’s deteriorating finances and mounting fiscal challenges. Members on both sides of the political aisle must support this Commission so that it can find real, workable solutions to problems that place American families and the U.S. economy at great risk."

"While it is important to meet the goal of primary budget balance by 2015, it is even more critical to focus on addressing the nation’s structural fiscal imbalances which are projected to grow significantly over the next several decades. Longer-term structural deficits are what really threaten America’s future. To create a sustainable future for all Americans, everything must be on the table. This challenge requires a fresh look at all elements of fiscal policy, including federal spending priorities, entitlement commitments and revenue levels."

"Going beyond Washington to engage the American people will be important to the commission's success. Such an effort should communicate the facts about our nation’s fiscal crisis while simultaneously providing the public an opportunity to voice its opinions and concerns."

About PGPF

Founded by the Chairman Emeritus of The Blackstone Group with a commitment of $1 billion, the Foundation is dedicated to increasing public awareness of the nature and urgency of key economic challenges threatening America's future and to accelerating action on them. To address these challenges successfully, we work to bring Americans together to find sensible, long-term solutions that transcend age, party lines and ideological divides in order to achieve real results. For more information, see www.PGPF.org .