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 worked for the magazine for more than 30 years. In that time he has been based in various sites within the United States and in Tokyo, Kuala Lumpur, Shanghai, and Beijing. He has written ten books, of which the latest, China Airborne, was published in May. He won the American Book Award for his book National Defense, the National Magazine Award for his writings about the Iraq war, and a New York Emmy for his role as host of a documentary series on China. During the Carter administration, he worked in the White House as the president’s chief speechwriter.
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.