President Obama is set to host and conduct a summit regarding “fiscal responsibility” this week. President Barack Obama’s goal for the summit has not yet been announced. Peter G. Peterson watch closely to this summit and you can follow more debates on Peter G. Peterson (PGPF Blog) at pgpf.org.

The Peter G. Peterson Foundation is under The Blackstone Group that went public on June 21, 2007 with investment firm’s co-founder Pete Peterson who became a billionaire. Peter G. Peterson is a philanthropist and student of philanthropy, as well as a longtime advocate for securing America’s fiscal future. Peter G. Peterson decided to devote much of his new fortune – $1 billion – to a foundation that would tackle some of the critical challenges threatening the nation’s well-being. Among them: large and growing budget deficits, dismal national and personal savings rates, and a ballooning national debt that endangers the viability of Social Security, Medicare, and our economy itself. These issues have been the increasingly costly gorilla in the room for too long as seen by Peter G. Peterson. Policymakers of all stripes know they are unsustainable, and yet they’ve been politically untouchable, with special interests and career-minded elected officials lined up to block efforts to address them. The media and the business community seem to share Washington’s short-sightedness, preferring to focus on today instead of covering and investing in the future which clearly noted by Peter G. Peterson.

Peter G. Peterson decided to invest much of his personal fortune in an unprecedented effort to persuade our leaders and citizens to confront the inconvenient truths threatening our economy and America’s future, generally, at home and abroad. He determined that his foundation would have the resources and the leadership to act as an independent, nonpartisan convener and facilitator of solutions that transcend age, ideology and party lines. That it would tackle not only the debts and deficits directly threatening the economy, but also the challenges weakening the foundation of our future: out-of-control energy consumption, an education system that lags behind other developed nations, and a health care “system” that costs more and yet leaves more people behind with each passing year.

Finally, Peter G. Peterson decided that this foundation would make a special effort to inform and engage the people who are most threatened by the collective reluctance to address these issues: young adults.

Peter G. Peterson’s dedication to America stems from his own life story, a classic tale of the American dream. He is the son of a Greek immigrant who moved to America as a teenager with no money, no knowledge of English, and only a third-grade education. Taking a job as a railroad dishwasher, he slept and ate in a caboose and saved his wages, eventually opening an all-night restaurant in Kearney, Nebraska. He sent his son to college. From there, Peter G. Peterson went on to succeed in the corporate world, serve in the Cabinet, and on one summer morning, become an instant billionaire. To follow the issues regarding fiscal responsibility, entitlement reform, healthcare reform, tax reform, and even personal responsibility from Peter G. Peterson visit www.pgpf.org.

The Peter G. Peterson Foundation is dedicated to securing the future of all Americans, and to reversing the recent loss of faith that children will have better lives. By promoting responsibility today and opportunity tomorrow, Peter G. Peterson Foundation will do its best to keep the country strong and keep this very American dream alive.

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