Assertion: billionaire | /r/HasProperty | pete peterson
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text: Or – as advocated by the billionaire Pete Peterson (co-founder of the Blackstone private equity firm) and wealthy allies who fear that high government spending and deficits would erode bond values – should guaranteed benefits be cut, perhaps through less generous cost-of-living adjustments, or by ending guaranteed benefits entirely and leaving retirees with private accounts subject to stock-market fluctuations?