April 20, 2014

Say, Look at That Cliff . . .

  • The national debt has grown significantly in recent years due to rising annual deficits. A deficit occurs in any year the government spends more...

As the political squabbling has continued over proposed cuts in a small part of the federal budget, dozens of fiscal, economic experts and business leaders renewed calls for President Obama and Congress to begin serious talks aimed at developing a comprehensive reform plan to curb the rapid growth of the federal debt.

Robert L. Bixby, executive director of The Concord Coalition, said the debate in Washington over the current year's budget has reminded him of the Three Stooges fighting in the back seat of a car without noticing that they were headed for a cliff.

It is encouraging, however, that 64 senators and the Blue Dog Democrats in the House have committed themselves to use the recommendations of the President’s bipartisan fiscal commission as a starting point for developing a broad, long-range reform plan.

But similar commitments are needed from more House members and the President himself. And elected officials need to quickly clear the deck for this critical effort by cooperating with each other to wrap up a deal on this year’s budget.