From NBC's Mark Murray
As the Senate debates an economic stimulus plan whose price tag could come close to $900 billion, the Peter G. Peterson Foundation -- a non-partisan group created to bring awareness to the nation's rising spending and entitlement costs -- is launching an ad campaign to urge the Obama White House and Congress to address long-term fiscal challenges.
That campaign began today with a print advertisement in the Washington Post and Roll Call. "Today's economic crisis is just the tip of the iceberg," the ad says, with the picture of a gigantic 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."
Tomorrow, Peterson Foundation president Dave Walker -- along with Sens. Kent Conrad (D) and George Voinovich (R), and Reps. Frank Wolf (R) and Jim Cooper (D) -- will hold a press conference to announce the group's full plans for a $1 million-plus advertising campaign.