Statement from Foundation Vice Chairman, Michael A. Peterson, on Chairman Ryan's Budget Proposal

"Chairman Ryan deserves credit for developing a plan that looks beyond the immediate future and focuses on solving the major drivers of America’s long-term debt.

"Addressing our rising health care costs and our inefficient tax system are essential elements of long-term fiscal reform, and the Ryan plan sets out the Republican approach to solving these problems. For any fiscal plan to be politically viable and lasting, it must achieve bipartisan support, and that means both parties will need to make concessions for the good of the nation. Our elected leaders must now work together to address their differences and put the nation on a sustainable long-term fiscal path. To achieve a lasting bipartisan solution, all options must be on the table, including additional revenues and entitlement reform.

“Stabilizing federal debt at an affordable level as a percentage of the economy for the long term is the key goal of deficit reduction. There are no easy choices, but we can no longer afford inaction. It’s time for our political leaders to set ideology aside and make the tough choices and compromises needed to get our fiscal house in order.”