Peterson Foundation Statement on Fiscal Commission Legislation

NEW YORK — Michael A. Peterson, CEO of the Peter G. Peterson Foundation, commented today following the introduction of legislation in the Senate to create a bipartisan fiscal commission to stabilize the national debt. This bill joins similar legislation introduced earlier this year in the U.S. House of Representatives. Peterson said:

“It’s very encouraging to see bipartisan, bicameral support for a fiscal commission to recommend solutions to our $33 trillion and growing national debt.

“Nine in ten Americans support creating a bipartisan fiscal commission because they understand the importance of stabilizing our debt, and now there is legislation in both the House and Senate to do just that.

“For far too long, we have been budgeting by crisis while our debt rises unabated. It’s time to bring leaders together for a comprehensive and substantive process to secure our nation’s fiscal and economic future.

“A dedicated process that puts everything on the table will allow policymakers to look across the entire budget to successfully put our nation on a more stable path. Lawmakers in the House and Senate deserve credit for moving a fiscal commission forward, and they have overwhelming support from voters across the country.”

Recent Peterson Foundation polling shows that 89% of voters, including 90% of Democrats, 90% of Republicans, and 87% of independents, agree that it is important for lawmakers to create a bipartisan fiscal commission to recommend comprehensive reforms to stabilize the $33 trillion and rising national debt.

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