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NEW YORK — Michael A. Peterson, CEO of the Peter G. Peterson Foundation, commented today as policymakers continue to discuss proposals for infrastructure legislation:
“As leaders continue to seek bipartisan common ground on investments in our nation’s infrastructure, it’s critical that they maintain a fiscally responsible approach and pay for their priorities.
“While our nation has many critical infrastructure needs, we also have an unsustainable fiscal outlook. New spending should be fully paid for through legitimate and credible offsets, and without budget gimmicks. As it stands, we are coming off borrowing trillions to defeat the pandemic, and we remain on pace to add $13 trillion in debt over the next 10 years to cover our existing structural deficits.
“We all want to foster broad-based economic prosperity, and responsible, forward-looking policymaking is necessary to build an inclusive and fair economic system over the longer term. Paying for our priorities while committing to make progress on our unsustainable fiscal trajectory will help ensure that we have the strength and resources we need to build a brighter and stronger economic future for the U.S."
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