A new foundation is seeking to build grass-roots support to drastically shrink the $9-trillion federal deficit, reports The Boston Globe.

The nonpartisan Peter G. Peterson Foundation, a New York fund named after the founder, an investment banker who served as commerce secretary in the Nixon administration, will next week start a multimillion-dollar advocacy campaign, beginning with the premiere of the documentary film I.O.U.S.A. Television advertisements and Internet appeals will follow, according to Mr. Peterson and David M. Walker, the former comptroller general of the United States, who serves as the foundation’s chief executive officer.

The foundation plans to meet with advisers to presidential candidates John McCain and Barack Obama. “We are going to do our best to try to make sure it is an issue in the presidential campaign,” Mr. Walker said.

See The Chronicle’s recent article on the newly created Peterson Foundation.

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