NEW YORK — Michael A. Peterson, President and COO of the Peter G. Peterson Foundation, released the following statement today following Senate approval of the Bipartisan Budget Act of 2013:

“This budget deal doesn’t address the real drivers of our long-term debt, but it establishes a foundation for continued bipartisan collaboration. Congress and the President should build on this first step by working together in 2014 on the key fiscal and economic issues we face. Putting our nation on a stable long-term fiscal path is essential to growing our economy now, and providing prosperity and security for future generations of Americans.”