Statement on the 2013 Federal Government Shutdown

NEW YORK — Michael A. Peterson, president and chief operating officer of the Peter G. Peterson Foundation, released the following statement this morning responding to the government’s shutdown, which took effect on Tuesday, October 1st:
“Shutting down the government is a disappointing and unfortunate step in the wrong direction. Government-by-crisis gets us no closer to finding a solution to the real threat to our economy: our long-term structural deficits. Congress and the President should find a way through this immediate fiscal and political chaos, which is hurting our fragile economic recovery. Once they do, they should re-commit themselves to developing a comprehensive bipartisan plan to finally put the nation on a sustainable fiscal path.”
Further Reading
A State-by-State Look at the Threat of Social Security’s Looming Insolvency
Should Social Security’s primary trust fund be allowed to deplete, the economic consequences will be felt by millions of households.
In Their Own Words: Debt a Critical Issue for Voters in 2026 Election
Voters understand that the national debt has become too big to ignore as a major factor in America’s affordability crisis.
Spending on Veterans in the Budget
Federal spending for veterans has increased relatively sharply in the past two decades as scores of veterans returned home from extended wars in Iraq and Afghanistan.