The Peter G. Peterson Foundation
The foundation's logo
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| Founded | 2008 |
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| Founder | Peter G. Peterson |
| Type | foundation |
| Focus | Fiscal and economic challenges of the United States |
| Location |
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Key people
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Peter G. Peterson, Founder and Chairman Michael A. Peterson, President and Chief Operating Officer |
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Revenue (2014)
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$95,716,695 |
| Expenses (2014) | $32,403,596 |
| Endowment | US$1.0 billion |
| Mission | To increase public awareness of the nature and urgency of key fiscal challenges threatening America's future and to accelerate action on them. To address these challenges successfully, we work to bring Americans together to find and implement sensible, long-term solutions that transcend age, party lines and ideological divides in order to achieve real results |
| Website | pgpf.org |
Peter G. Peterson, Founder and Chairman
The Peter G. Peterson Foundation is an American foundation established in 2008 by Peter G. Peterson, former US Secretary of Commerce in the Nixon Administration and co-founder of the Blackstone Group, an American-based financial-services company. With an endowment of $1 billion, it focuses on raising public awareness about the need for long-term fiscal sustainability related to federal deficits, entitlement programs, health care and tax policy and supporting the development of policy solutions to these challenges.
In 2008, Peter G Peterson committed $1 billion to create the Peter G. Peterson Foundation, an organization dedicated to addressing economic and fiscal "sustainability challenges that threaten America's future." Peterson recruited David M. Walker, then-Comptroller General of the United States and head of the Government Accountability Office, as the foundation's first president and chief executive officer.
In 2010, the foundation launched an annual Washington, D.C. event aimed to draw attention to America’s long-term fiscal issues. The now annual Fiscal Summit brings together top U.S. leaders, such as Bill Clinton, Chris Christie, Nancy Pelosi, Paul Ryan, Paul Volcker, Alan Greenspan, and Patty Murray, to discuss challenges and solutions to U.S. fiscal sustainability.
In October 2010, David M. Walker stepped down as President and CEO of the Peter G. Peterson Foundation to establish his own venture, the Comeback America Initiative with funding provided by the Foundation.
According to the Peterson Foundation website, the mission is the following:
"to increase public awareness of the nature and urgency of key fiscal challenges threatening America's future and to accelerate action on them. To address these challenges successfully, we work to bring Americans together to find and implement sensible, long-term solutions that transcend age, party lines and ideological divides in order to achieve real results."
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