Statement from Foundation Chairman Pete Peterson on New Simpson-Bowles Deficit-Reduction Framework
“Alan Simpson and Erskine Bowles have again shown tremendous leadership in focusing the public’s attention on our nation’s serious long-term fiscal challenges and keeping all options on the table as they seek bipartisan solutions. Simpson and Bowles make clear that improving economic growth and addressing our long-term fiscal challenges is not an either-or proposition. We can and must do both. Simpson and Bowles are offering Washington a way beyond its current impasse with a new, comprehensive framework to strengthen the economy, reform the tax code, and fix the major drivers of long-term debt. Their ideas deserve serious consideration in Congress and at the White House.”
Further Reading
Infographic: The Facts About U.S. Defense Spending
National security is both a vital priority and a significant part of the federal budget.
What Is Budget Reconciliation?
The reconciliation process avoids the potential need to gather 60 votes to end debate and, therefore, allows the Senate to adopt legislation with a simple majority.
Budget Basics: National Defense
The national defense budget funds a wide range of activities and represents a significant share of overall federal spending.