(CNN) – As the Senate debates spending measures in President Obama’s stimulus bill, a non-partisan group launched a million-dollar ad campaign Wednesday to urge the new administration to create a task force to tackle rising entitlements costs.
The Peter G. Peterson Foundation, an institution dedicated to fighting wasteful government spending, printed ads in the Washington Post and Roll Call on Wednesday calling the current financial crisis “just the tip of the iceberg.”
“We must also focus on a much larger yet less visible threat: the $56 trillion in liabilities and unfunded retirement and health care obligations (that’s $483,000 per U.S. household), and the dangerous reliance on foreign lenders, that threaten our ship of state,” says the ad.
The group is asking Obama to appoint a bipartisan task force to deal with the current financial crisis and to fix structural problems with the economy overall. Congressional Democrats like Sen. Kent Conrad of North Dakota and Rep. Jim Cooper of Tennessee and Republicans like Sen. George Voinovich of Ohio and Rep. Frank Wolf of Virginia will join the group’s president and CEO David Walker for a press conference on Capitol Hill on Thursday to talk about the mission and ad campaign.
A spokeswoman for the foundation said the group is planning to spend a minimum of a million dollars on the ad campaign launched Wednesday, which will include an ad in the New York Times this week as well as television spots in the near future.
yeah...you ignorant libs...let's keep spending! Obama can go to Kinko's and buy more paper to make more money! He'll drive us straight into a civil war.
Best thing to do: file that under "Debts" and come back to it later. Maybe we'll find it after a couple dozen administrations...
Let's start when somebody in Congress retires or gets defeated/ The Senator from Alaska who was convicted will of a crime will receive a $150,000 dollars for life. How about other former Congress members let's cut their retirement benfits too.
What is it about the GOP hating poor people? They are the most selfish, self-righteous, hateful people. Don't help the poor, or immigrant, or minorities, because we need them to be poor so they can do the stuff we don't want to do. That's what its all about. They feel like they only need a few minorities and poor people. The rest are bottom feeders, and are expendable.
I say in 2010, let's make sure that we get rid of these people and go back to being the nation that is a beacon of hope and a people of compassion.
If Republicans are so brillant, then how did we get into this mess after 8 years of a Repubican in the Executive branch and Republican control of Congress from 1995 to 2006??
They are hypocrites plain and simple.
Obama, please keep politics to the minimum, you are only helping your Democratic party, and not the people!
Lets r=talk about debt, and how the Republican Party under the leadership of GW Bush wiped out our nations surplus and redefined the term debtor nation. Eliminate Congressional retirement plan, perks, and Congressional golden parachutes. THen we can talk about entitlements. These guys are set for life after a couple years in office, they have destroyed the economy, ruined our reputation around the world and they want to make people think that they know what they are doing, get off it.
Last balance budget this nation saw was undr a tax and spend Democrate, since then all we have seen is tax cut and spend, spend, spend fisical conservative right wingers. Personnally I can not afford and more republican fisical conservatives telling me how to do thing.
Great analogy, Terry.
It think healthcare and retirements benefits are rights and should be provided by the government.
And I do work 40 hours a week, 48 weeks a year. I have worked full time since I was eighteen. I went to school at nights and earned two degrees. I have paid into SS and did have a pension until it was frozen and had to go fully with a 401. Now, I have lost $92k from my 401K in 2008; I could be layoffed and there goes the healthcare. I am far from lazy but I would like to retire and I would appreciate not worrying about healthcare.
If I can't get these types of entitlements then our policiticans should not receive them either.
The government does need to take care of healthcare and retirement benefits for all Americians.
Michelle and Barak are here to save us.
Too bad they can't control the Dems in the house who wrote a bad bill.
Gibbs is a terrible press guy but it was a pretty funny conference. Maybe we should have been looking over the shoulders of the congressmen writing the bill. Maybe we should have written the bill ourselves.
Wow you guys screwed up again and now you dont know how to stop little Nancy Pelosi.
How convenient that this group WAITS UNTIL FEB 2009 to get serious about the financial crises.
Can somebody please tell me why all of a sudden all the fiscal conservatives decided to wait until after GWB left office to start complaining about the country's fiscal problems???????
The one consistent answer I have found so far is a NON-ANSWER!
Obama admitted anorther mistake in letting the democrats in the house write the bill. Oops you think so now.
Terry @ 3:15....
Excellent way to put this all in perspective.
Hey TCM, I'm still waiting for a helpful idea or useful comment from you.
Terry @ 3:15--
Excellent summary of what we have dealt from the conservatives. All talk but no ideas. And they do a great job of spending other people's money.
Hey TCM......I'm still waiting for a constructive comment or a useful idea from you.
Dont blame me, February 4th, 2009 2:33 pm ET
WOW just WOW
You need to revisit the civics classes offered in highschool. Please educate yourself about the legislative process.
And for posting factual information
"the CBO which is controlled by the democrats state that only 3% of the stimulus will be enacted before 2011"
You get an F. Where did you get this? You have a computer and an internet connection (we know because you subjected us to your post) How about some research? Even FOX news is not spouting that lie.
This is one of the worst pieces of legislation to ever clear the House. I hope it dies a long slow death in the Senate and is replaced with a bill that is tax cuts only. If the government wants to create jobs, they should eliminate the employers' portion of the payroll tax. Unemployment would virtually disappear over night and the economy would heat up like never before.
When rich people see poor people getting money from the government for nothing, it makes them wonder why they have to spend thousands on lobbyists to get the millions they take from the coffers.
Easy. They acted like a bunch of liberals.
Dave S. February 4th, 2009 2:38 pm ET
FISCAL CONSERVATIVES still exist in today's GOP??? Could've fooled me!
I agree 1000%. There was a time when conservatives acted like conservatives rather than the democratic evil twin!
what a bunch of hypocrits
where were they the last 8 years?
nothing to say then, then say nothing now
your opinion is worthless
If only 3% is enacted by 2011, then it's not a stimulus is it.
Matthew Truth February 4th, 2009 3:44 pm ET
Michelle and Barak are here to save us.
They are here to lead this country. Stop deifying and worshipping them. You will only get disappointed as they are only human! Pathetic!
David Walker knows what he's talking about.
It would have been nice if these people had shown up about 6-7-8 years ago. Did it not bother anyone that we were spending hundreds of millions of dollars every single day rebuilding Iraq? Yes, we had responsibilities since we were the ones to bomb it to rubble, but you'll never convince me that Iraq didn't have money of its own to rebuild with. Somebody tell me just how many trillion we've spent over there since W went in to avenge his Daddy & Cheney to make billions for Halliburton.
After the stimulus crisis is completed, America must have a "come to Jesus" with ourselves to agree on a bare-bones budget foresaking all non-esentials for at least 5 years to set a blueprint for the future. The national debt will drag our nation downward until we can begin paying it down as stagflation will surely follow our current crisis. Anybody remember the Carter years??? The Vietnam War spending like Iraq ended causing years of stagflation caused 21% mortgages to be common and everything else to triple in price. We will encounter same after the stimulus as greed again takes hold!!!