Peterson Foundation Statement on Temporary End to Shutdown

NEW YORK — Michael A. Peterson, CEO of the Peter G. Peterson Foundation, commented today in response to the President’s announcement that he will agree to temporarily re-open the government after a 35-day partial shutdown:
“This shutdown has negatively affected the lives of millions of Americans, disrupted essential government services, and unnecessarily harmed the economy.
“Temporarily re-opening the government will alleviate pressure in the short term, but lawmakers must find a lasting solution that moves our nation past this unfortunate episode. American families shouldn’t have to keep worrying about whether or not their next paycheck will arrive.
“Furthermore, our leaders need to move past gridlock and partisanship to focus on solutions to America’s serious and unsustainable long-term fiscal and economic challenges.”
Further Reading
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Compared with the previous 30-year projections, spending will be higher, revenues lower, interest rates and interest payments elevated, and the national debt significantly larger.
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Federal healthcare programs are among the fastest-growing drivers of federal spending, and their continued growth will put significant upward pressure on the national debt.
Quarterly Treasury Refunding Statement: Higher Borrowing Compared to Last Year
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