Statement on Budget Process Reform Principles as Joint Select Committee Holds First Hearing
Statement on Budget Process Reform Principles as Joint Select Committee Holds First Hearing
NEW YORK — Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation, commented on today’s initial public hearing of the Joint Select Committee on Budget and Appropriations Process Reform, and sent the Committee a letter outlining key principles for budget process reform:
“Our country is on an unsustainable fiscal path, and reforming our broken budget process can be an important part of improving our fiscal future. With the return of trillion dollar deficits next year and interest growing faster than any other federal program, the time to act is now.
“Budget process reform alone cannot substitute for better decision-making on policies and priorities, but Members on this Select Committee have a valuable opportunity to make sensible bipartisan reforms that will encourage fiscal responsibility and help lawmakers put us on more solid fiscal foundation.”
Further Reading
Quiz: How Much Do You Know About the Federal Budget?
A strong fiscal outlook is an essential foundation for a growing, thriving economy. Take our quiz to see how much you really know about the federal budget.
What Is SNAP? An Overview of the Largest Federal Anti-Hunger Program
SNAP has a positive effect on poverty and food insecurity, with a relatively small effect on the federal budget.
Four Reasons Why a Government Shutdown Is Harmful
It may be counterintuitive, but government shutdowns are expensive. They are also bad for the economy.