Statement by Pete Peterson on Plan by Bipartisan Group of Senators
“What America needs right now is a bipartisan compromise to put our country on a path to long-term fiscal sustainability and avoid a major financial crisis. The bipartisan group of senators has demonstrated remarkable leadership, courage and determination in developing a comprehensive package which includes spending cuts and revenue reforms to address our structural deficits. These six senators have done what we need all of our elected leaders to do: come together on a comprehensive bipartisan plan that addresses America’s long-term deficits in a big way.”
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.
Further Reading
The One Big Beautiful Bill Act Is the Most Expensive Reconciliation Package in Recent History
This week, lawmakers in Congress approved reconciliation legislation that will add trillions of dollars to America’s already unsustainable fiscal trajectory
Healthcare Costs Are a Major Driver of the National Debt and Here’s the Biggest Reason Why
One of the largest drivers of that rising debt is federal spending on major healthcare programs, such as Medicare and Medicaid.
Despite Decades of Warnings, Depletion of Social Security’s Trust Fund Is Getting Closer
The depletion dates for Social Security and Medicare’s Trust Funds are rapidly approaching.