Peterson Foundation Statement on 2018 Midterm Election Results

NEW YORK — Michael A. Peterson, CEO of the Peter G. Peterson Foundation, commented today on the results of this week’s midterm elections:
“As policymakers begin to prepare for the new landscape in Washington, they have both a requirement and a valuable opportunity to work together on fiscal solutions. Divided government means we need bipartisanship to address America’s most critical challenges, including our rising national debt.
“When it comes to our national debt, Americans are in agreement — eight in 10 voters across party lines want the new Congress to prioritize and solve this issue.
“With the return to trillion-dollar deficits this year, and growing interest costs outpacing investments in our future, this new Congress can’t afford to turn its back on our national debt. It is essential to find a bipartisan path to build a fiscal foundation for continued economic growth and prosperity for the next generation.”
Further Reading
What Is Budget Reconciliation?
The reconciliation process avoids the potential need to gather 60 votes to end debate and, therefore, allows the Senate to adopt legislation with a simple majority.
Budget Basics: National Defense
The national defense budget funds a wide range of activities and represents a significant share of overall federal spending.
Spending on Veterans in the Budget
This piece examines spending on veterans within the budget and outlines the factors that have pushed it higher in recent years.