Sun Feb 24, 2013, 08:01 PM
ashling (24,674 posts)
Liberal Watchdog Group: 'Fix The Debt' Movement More Astroturf Than Grassroots
The liberal watchdog group Center for Media and Democracy says Fix the Debt — a key unit in philanthropist Pete Peterson's corps of organizations to battle the national debt — is a pro-business effort masquerading as a grassroots movement.
In a conference call with reporters Friday, CMD director Lisa Graves called Fix the Debt "an Astroturf supergroup that is exceedingly well funded." The term "Astroturf" refers to groups that appear to be citizen-organized but actually have their roots at consultants' offices inside the Capital Beltway.
Among the co-founders, co-chairs and steering committee — 13 people in all — it found six who sit on corporate boards, including GE, JPMorgan Chase and Morgan Stanley; advisers to Goldman Sachs and the private equity firm KKR; and lobbyists for KKR, the Private Equity Growth Capital Council and U.S. Chamber of Commerce.
Fix the Debt also has two well-populated advisory groups: a CEO council with about 90 members, and a Business Leaders Council of about 40
The Campaign to Fix the Debt is the latest incarnation of a decades-long effort by former Nixon man turned Wall Street billionaire Pete Peterson to slash earned benefit programs such as Social Security and Medicare under the guise of fixing the nation's "debt problem." Through a special report and new interactive wiki resource, the Center for Media and Democracy -- in partnership with the Nation magazine -- exposes the funding, the leaders, the partner groups, and the phony state "chapters" of this astroturf supergroup. Learn more at PetersonPyramid.org and in the Nation magazine.
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