Billionaires for Austerity: With Cuts Looming, Wall Street Roots of "Fix the Debt" Campaign Exposed
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Democracy Now!, February 26, 2013: With $85 billion across-the-board spending cuts, known as "the sequestration," set to take effect this Friday, a new investigation reveals how billionaire investors, such as Peter Peterson, have helped reshaped the national debate on the economy, the debt and social spending. Between 2007 and 2011, Peterson personally contributed nearly $500 million to his Peter G. Peterson Foundation to push Congress to cut Social Security, Medicare and Medicaid -- while providing tax breaks for corporations and the wealthy.