May 27, 2010 14:30 ET

Administration, Congressional and College Teams "Get Fiscal" in Second Annual Budgetball Tournament on the National Mall

Policymakers Compete With College Students in Tournament to Raise Awareness of America's Fiscal Challenges; Philander Smith College Triumphant Tournament Champions

WASHINGTON, DC--(Marketwire - May 27, 2010) -  Fiscal policymakers representing the U.S. House Budget Committee, the U.S. Treasury Department, other federal agencies, and policy groups faced off against college students in the Second Annual 'Budgetball on the Mall' Tournament held on the National Mall. Players included David Walker, President and CEO of the Peter G. Peterson Foundation and former U.S. Comptroller General, and Robert Reischauer, President of the Urban Institute and former Director of the Congressional Budget Office.

Budgetball is a team sport similar to ultimate Frisbee with the addition of fiscal strategy to physical play. The tournament was hosted by the Peter G. Peterson Foundation, which supported the development of the game, and the National Academy of Public Administration, which led its design and implementation throughout the country.

U.S. Treasury Secretary Timothy Geithner met with participating teams on the sidelines and issued a statement expressing his support of the innovative financial literacy game. "Now more than ever it is time for the younger generation to learn about issues related to our fiscal future. The U.S. faces large fiscal challenges and the decisions the country makes now will directly affect the burdens that younger generations will face tomorrow... Budgetball's goal is to raise awareness of the fiscal challenges we face as a country and to promote responsible financial behavior at both personal and national levels, which are critical to the success of our economy and our country." (See below for the full statement.)

U.S. House Majority Whip James Clyburn (D-SC), who hosted a breakfast on Capitol Hill in honor of the college teams participating in the Budgetball Tournament, spoke passionately about the initiative.

"It's important for all of us to participate in national debates on our fiscal future. Our youth are not responsible for the practices that turned a projected $5.6 trillion surplus into an $11 trillion deficit. But they can be helpful and there is no better time than now to figure out ways to address our rising deficit and ensure economic stability and security for years to come. Budgetball is a great way for students to make their voices heard in the national debate on our nation's fiscal future. After all, it is their inheritance that's at stake," Clyburn said.

"Today's Budgetball Tournament brings people together across generations and party lines and is an innovative way to get Americans thinking about the serious problem of our growing deficit and debt levels. By participating in this interactive sport, players and spectators experience aspects of a decision-making process which impacts efforts to put our personal and federal finances in order," said David Walker, President and CEO of The Peter G. Peterson Foundation and former U.S. Comptroller General.

National Academy President Jenna Dorn spoke about the game's unique approach to financial capability. "Budgetball strips away the complicated jargon and confusing details of the Federal budget, and puts fun into the funding debate. Fiscal becomes physical," said Dorn.

In the final match Philander Smith College defeated Central State University to win the tournament.

Sixteen teams representing the Administration, Congress, colleges and policy groups, competed in the National Mall, including: "Stress Tested" -- The U.S. Department of the Treasury; "302(b)allers" -- The U.S House Budget Committee; "American Dreamers" -- The Peter G. Peterson Foundation; "Debt Busters" The Urban Institute; "Budget Hawks" -- The Committee for a Responsible Federal Budget; "Rough Riders" -- The Roosevelt Institute; "Super Savers" -- The International City/County Management Association Retirement Corporation; "Awesome ASEC'ers" -- American Savings Education Council; "Curve Bender" -- Concerned Youth of America/Concord Coalition; "Fiscal Fellows" -- Presidential Management Fellows; Hampton University; Voorhees College; Central State University; Kentucky State University; Philander Smith College; and Virginia Tech.

Secretary Geithner's full statement:

"Now more than ever it is time for the younger generation to learn about issues related to our fiscal future. The U.S. faces large fiscal challenges and the decisions the country makes now will directly affect the burdens that younger generations will face tomorrow.

"All Americans must become better informed about these challenges, and we must encourage discussions on ways to overcome them. Young adults particularly need to make financially smart decisions, by saving and using credit more responsibly. Budgetball's goal is to raise awareness of the fiscal challenges we face as a country and to promote responsible financial behavior at both personal and national levels, which are critical to the success of our economy and our country. I hope that at a minimum this event will open up discussion for everyone here on these critical issues.

"I wish all participants good luck in the tournament."

For more information on the tournament and participating teams, please visit: http://www.budgetball.org/playing/current-initiatives/bballmall2010/.