In conversation with James Fallows, Peter G. Peterson discusses America's long-term fiscal health.
The Honorable Peter G. Peterson, founder and Chairman of the Peter G. Peterson Foundation, founder of the Blackstone Group, former U.S. Secretary of Commerce, former Chair of the Council on Foreign Relations, and former Chairman of the Federal Reserve Bank of New York
Moderator: James Fallows, National Correspondent, The Atlantic
James Fallows is a national correspondent for The Atlantic and has written for the magazine since the late 1970s. He has reported extensively from outside the United States and once worked as President Carter's chief speechwriter. His latest book is China Airborne.
The Honorable Peter G. Peterson
Pete Peterson is founder and chairman of the Peter G. Peterson Foundation, a nonpartisan organization dedicated to raising awareness of America’s long-term fiscal challenges and promoting solutions to ensure a better economic future. The Foundation works with leading thinkers, policy experts, elected officials, and the public to build support for efforts to put America on a fiscally sustainable path.
Prior to starting the Foundation, Pete spent more than 50 years working in business and public service. In 1985, he co-founded The Blackstone Group, and over the next two decades he helped to grow the firm into a global leader in alternative investments. In the 1970s and ‘80s, Pete served as chairman and CEO of Lehman Brothers and Lehman Brothers, Kuhn, Loeb Inc. Before working in Washington, Pete was Chairman and CEO of audio-visual equipment manufacturer Bell & Howell, and an executive at advertising firm McCann Erickson.
Peter G. Peterson, founder and principal funder of The Peter G.Peterson Foundation, gives some sobering statistics on the state of the United States economy. Reflecting on the nature of the stagnant economy, Peterson fears that the American Dream is declining.