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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.”