Statement by Foundation Chairman Peter G. Peterson on Chairman Paul Ryan's Budget Proposal

“Chairman Ryan deserves significant credit for looking beyond the current fiscal year and leading an effort to put forward a budget proposal that addresses many of the drivers of our long-term debt. With the increasing recognition that our fiscal situation is unsustainable, we are now beginning a national dialogue on solutions. There are many points of view on how we should address our long-term debt and deficits, so now is the time for elected leaders who have different ideas to come forward with their own plans to address our challenges. This process will not move forward without leadership.

“President Obama and Congress must work toward agreement on a set of solutions that build a solid fiscal foundation to ensure economic prosperity for our future. Any viable plan must address all of the drivers of our long-term debt and be done in a way that maintains a social safety net for Americans who need it. We can no longer afford inaction. ”

About the Peter G. Peterson Foundation

The Peter G. Peterson Foundation is a nonprofit, nonpartisan organization established by Pete Peterson – businessman, philanthropist, and former U.S. Secretary of Commerce. The Foundation is dedicated to increasing public awareness of the nature and urgency of key long-term fiscal challenges threatening America's future and to accelerating action on them. To address these challenges successfully, we work to bring Americans together to find and implement sensible, long-term solutions that transcend age, party lines and ideological divides in order to achieve real results. To learn more, please visit www.PGPF.org.