Peterson on JSC Recommendations: Positive Bipartisan Step We Must Build Upon

NEW YORK — Michael A. Peterson, CEO of the Peter G. Peterson Foundation, commented today following the release of recommendations by the bipartisan Joint Select Committee on Budget and Appropriations Process Reform:
“The Joint Select Committee’s recommendations represent a positive bipartisan step that we must build upon going forward. Biennial budgeting has the potential to improve the annual appropriations process and help lawmakers see the big picture.
“While these ideas represent a start, much more can be done to improve our budget process in order to help achieve more fiscally responsible policies.
“Following the mid-term elections, there is both a requirement and an opportunity for our leaders to reach across party lines. The work of this bipartisan committee — including not only its recommendations, but the other policies it explored — can serve as an important beginning for Congressional action. America’s future depends on policymakers in a divided government working together to improve our dangerous fiscal outlook.”
Further Reading
Three Reasons Why Assuming Sustained 3% Growth is a Budget Gimmick
Lawmakers are reportedly counting on 3 percent economic growth for the next decade. Here are three key reasons why that is an irresponsible budget gimmick.
What Is the Primary Deficit?
The primary deficit is the difference between government revenues and spending, excluding interest payments. Learn more about the U.S. primary deficit.
What Are Automatic Stabilizers and How Do They Affect the Federal Budget?
To better respond to business cycle fluctuations, many important programs in the federal budget automatically adjust spending based on economic conditions.