Fix the Debt Co-Chairs Say CBO Report Should Spur Action

 
WASHINGTON - Aug. 27, 2014 - PRLog -- The Congressional Budget Office (CBO) today released its updated budget baseline projections, which show debt beginning to grow again in 2018, and continuing to do so in perpetuity. CBO warns that if current law on federal taxes and spending remains unchanged, “deficits would grow and federal debt would climb.”

Judd Gregg and Ed Rendell, co-chairs of the Campaign to Fix the Debt, released the following statement:

“CBO’s midterm report is an excellent reminder for Congress as to why it must act. These problems will not fix themselves.  Instead of adding to the debt with unpaid for policies or gimmicky offsets, policymakers should return from their recess with a renewed commitment to make substantive improvements in our fiscal situation. Election year or not, the sooner we start to make the necessary changes, the easier they will be.”

The Campaign to Fix the Debt is a nonpartisan movement to put America on a better fiscal and economic path. We have come together from a variety of social, economic and political perspectives, around the common belief that America's growing national debt threatens our future and that we must address it now with a comprehensive, bipartisan plan. The Campaign mobilizes key communities -- including leaders from business, government, and policy -- and people all across America who want to see elected officials step up to solve our nation's long-term fiscal challenges.

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