President Obama Invites Peter G. Peterson Leaders to Take Part in White House 'Fiscal Responsibility Summit'

Feb 20, 2009, 13:50 ET from Peter G. Peterson Foundation

Founder and CEO to Join Diverse Group Invited To White House Conference

To Form Consensus on Addressing America's Fiscal Challenges

NEW YORK, Feb. 20 /PRNewswire/ -- The Peter G. Peterson Foundation is pleased to announce that founder Peter G. Peterson and CEO David M. Walker have been invited to participate in a White House "Fiscal Responsibility Summit" being held in Washington on February 23. Members of Congress, policy experts, and leaders from across the country will gather to discuss ways to reach consensus in addressing America's fiscal challenges.

Between the Foundation and the Concord Coalition, Pete Peterson has devoted much of his life to starting nonpartisan organizations that raise awareness of the fiscal issues threatening the country's long-term economic health. Peterson launched the Foundation in July 2008 with a $1 billion pledge, naming Walker, a former U.S. Comptroller General under Presidents Clinton and Bush, as the Foundation's President and CEO. Walker has participated in the Fiscal Wake-Up Tour, a bipartisan effort to promote federal fiscal responsibility, for over five years. Since its launch, the Foundation has invested nearly $11 million in grants to educate Americans and seek solutions to the fiscal challenges posed by the rising costs of health care and retirement and a low household savings rate.

Peterson and Walker are gratified to be invited to take part in the summit with other esteemed leaders on these issues. They will encourage the formation of a bipartisan "Fiscal Future Commission" that would include diverse members of Congress and the Administration as well as non-governmental officials, and would engage the public including by leveraging digital technology and the Internet. The commission would consider budget controls, entitlement reforms, spending constraints and tax increases. After engaging the public and key stakeholders, it would make a range of recommendations that would be guaranteed a vote by the Congress.

About the Peter G. Peterson Foundation:

Founded by the former senior chairman of The Blackstone Group with a commitment of $1 billion, the Foundation is dedicated to increasing public awareness of the nature and urgency of key fiscal challenges threatening America's future, and to accelerating action on them. To address these challenges successfully, it works to bring Americans together to find sensible, long-term solutions that transcend age, party lines and ideological divides in order to achieve real results. For more information, see

SOURCE Peter G. Peterson Foundation