You have to wonder about the motives of billionaire Peter G. Peterson planning to spend $1 billion (yes, that’s billion with a “b”) to force America to get serious about the perils of deficits and debt, when over the last seven years, the federal debt has gone from $5.7 trillion in 2001 to $9.372 trillion as of June 27, 2008. Moreover, despite all of Bush’s talk about “small government” and paying lip service to the memory of Ronald Reagan, the $3 trillion federal government has actually become over 50 percent larger during his term in office — even with a Republican majority in the Senate and the House in his first six years in office!
Head of the new foundation David Walker says the new Peter G. Peterson Foundation (PGPF) will be non-partisan, although Peterson has long known McCain and supports his presidential campaign.
It seems more than a little odd that there wasn’t much zeal for evangelizing about slaying the deficit and forcing the government to “live within its means” when money was being squandered on tax cuts for the rich and unproductive wars on the other side of the globe. Now that there’s a possibility the Democrats might be in charge however, all of a sudden fiscal responsibility is crucially important again. Go figure.