December 21, 2014

Debt and Jobs Vying For Congress' Favor

June 7, 2010
Congressional Quarterly

Excerpt

Robert Bixby, the executive director of the Concord Coalition, is at the forefront of the effort to publicize the dangers of uncontrolled federal spending. But even he worries that the economy is not yet at a point where it makes sense to forgo extending unemployment benefits and certain other federal supports, as long as they are carefully targeted at preventing layoffs that would exacerbate the economic downturn.

“Right now, I think that there’s still a case to be made for some aid to the states if it is a pretty direct form of injecting stimulus,” Bixby said last week.

The need to rein in deficits and the national debt should not be confused with near-term problems such as the current unemployment rate, Bixby said: “There’s no question that we do have to turn our attention to fiscal consolidation, because we’re on an unsustainable track. That unsustainable track has nothing to do with the short-term economy.”

President Obama echoed Bixby in a speech last week on the economy at Carnegie Mellon University in Pittsburgh. “Now, the economy is still fragile, so we can’t put on the brakes too quickly,” he said. “We have to do what it takes to ensure a strong recovery. A growing economy will unquestionably improve our fiscal health, as will the steps we take in the short-term to put Americans back to work.”