July 30, 2014

Key Budget Decisions Ahead

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

The next three months will be critical in terms of addressing the nation’s mounting fiscal challenges, according to Dave M. Walker, founder and CEO of the Comeback America Initiative and former U.S. comptroller general.

“There are many fiscal issues that need to be resolved in the next 100 days, and the action, or lack of action, taken will largely determine whether a fiscal ‘Grand Bargain’ is going to be reached in 2013,” Walker writes in a new guest blog for The Concord Coalition.

He notes the approaching “sequester” spending cuts, the March 27 expiration of the Continuing Resolution that is now funding federal agencies, the April 15 deadline for a congressional budget resolution, and needed action on the debt ceiling after that.    

“These issues must be dealt with, and we must quit moving from one short-term cliff to the next,” Walker writes. “But how can Congress make any real progress if members are spending most of their time outside of Washington? Between February and May, both the Senate and the House will spend five weeks in recess and outside of Washington.”

Walker’s organization has joined with several others to send a message to Congress:  “Don’t take any long breaks until you reach a deal that will reduce our debt to a sustainable level over time.” His blog explains how readers can join this campaign.