NEW YORK — Michael A. Peterson, President and COO of the Peter G. Peterson Foundation, released the following statement this evening as the budget conference committee reached a bipartisan budget agreement:

“This bipartisan deal looks like a good step, but it doesn’t address the real drivers of our long-term debt. We should all welcome our lawmakers coming together on a budget agreement that would end the recent cycle of governing by crisis. But make no mistake — we still have a lot more to do to put our nation on a sustainable fiscal path. I’m hopeful that this agreement will lay the foundation for future bipartisan collaboration to stabilize our national debt for the long term.”