Statement by PGPF on Completion of Fiscal Commission Appointments

Statement by David M. Walker, Peter G. Peterson Foundation President and CEO, on the Completion of Appointments to the National Commission on Fiscal Responsibility and Reform.

"President Obama and Congressional leaders on both sides of the aisle should be applauded for naming all the panelists to the National Commission on Fiscal Responsibility and Reform. Bruce Reed, head of the Democratic Leadership Council and chief domestic policy adviser in the Clinton administration, is an excellent choice for executive director of the Commission and is sure to play a pivotal role in its important work.

“It is time for the Commission to get to work on identifying solutions that address America’s unsustainable fiscal challenges. In order to take advantage of the opportunity President Obama has created, Commission panelists should abandon entrenched partisan politics and consider all options, including entitlement reform, spending constraints, revenue increases, and enforceable budget process changes to lock in the tough choices.

“The Commission’s goal of primary budget balance by 2015 is a good start, but it is even more important that panelists’ recommendations also fulfill the President’s charge to make meaningful improvements in the nation’s long-term fiscal outlook, thereby addressing the structural deficits that are projected to balloon over the next several decades and threaten America’s future.

"In addition, it is vital that the Commission and other groups engage the American people. Americans will support the necessary steps to avoid a fiscal crisis only if they understand the true depth of the problems we face. As the Fiscal Commission develops its recommendations for action to Congress over the next several months, the Peter G. Peterson Foundation will expand its citizen education and outreach efforts to ensure that Americans understand the facts about our nation’s fiscal crisis. The Foundation will share what we learn about citizens’ opinions and concerns regarding possible solutions with the Commission.”

About PGPF

Founded by Peter G. Peterson 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. [1]