Peterson Foundation Statement on Initial Meeting of New Joint Select Committee on Budget Process

NEW YORK — Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation, commented today on the initial meeting of the Joint Select Committee on Budget and Appropriations Process Reform:

“This committee has an important opportunity to improve the budget process in a way that will help encourage fiscally responsible policymaking. With rapidly growing debt, government shutdowns, debt ceiling deadlines and partisan gridlock, there’s no question that our budget process is broken.

“While budget process reforms alone are not a substitute for making the right fiscal decisions, a more transparent and orderly process can provide greater certainty to the economy and help our leaders set and meet fiscal goals. Lawmakers should seize this opportunity to make sensible, bipartisan process reforms that can help encourage responsible budgeting and create the conditions for Congress and the administration to give our nation a sustainable fiscal foundation.”