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
How Much Does the Government Spend on International Affairs?
Federal spending for international affairs, which supports American diplomacy and development aid, is a small portion of the U.S. budget.
Can We Raise the Retirement Age and Protect Vulnerable Workers?
Raising the retirement age could harm workers who would be unable to delay retirement due to physically demanding occupations, disability, or job loss.
A Brief History of U.S. Government Shutdowns
Government shutdowns (and the threat of them) are a recent phenomenon and something other developed countries don’t contend with.