Peterson Foundation Statement on Temporary End to Shutdown
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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High interest rates on U.S. Treasury securities increase the federal government’s borrowing costs.
How Does the United States’ Fiscal Position Compare to Other Countries’?
The United States has higher budget deficits and spends more on interest costs than its peers.
The United States Collects Less Tax Revenue Than Other G7 Countries
The U.S. collects less tax revenues compared with other G7 countries, and that lower level of revenues is a key driver of the national debt.