Peterson Foundation Statement on Government Shutdown
Peterson Foundation Statement on Government Shutdown
NEW YORK — Michael A. Peterson, CEO of the Peter G. Peterson Foundation, commented today in response to the government shutdown:
“It’s highly unfortunate that we are experiencing yet another government shutdown. Shutdowns not only interrupt federal programs and services, but they are harmful to the economy and waste time and money.
“Even after these final budget details are resolved, Washington seems content to spend a billion dollars a day on interest alone, and add $20 billion to our debt every single week. Instead of governing by crisis and brinksmanship, our leaders should work collaboratively to address the major structural challenges in our budget. We must do so in order to create the stable fiscal and economic path that all Americans deserve.”
Further Reading
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Defense spending by the United States accounted for nearly 40 percent of military expenditures by countries around the world.
Budget Basics: What Is the Earned Income Tax Credit?
The earned income tax credit (EITC) is a measure administered through the tax code to address poverty.
The Fed Held Its Target Range For the Third Meeting in a Row but Interest Costs Remain High
High interest rates on U.S. Treasury securities increase the federal government’s borrowing costs.