Loading
Latest News |
(See all)

Latest Updates

Citizens United signs on to coalition letter: NO DEBT LIMIT INCREASE WITHOUT FISCAL REFORMS

Citizens United signs on to coalition letter:  NO DEBT LIMIT INCREASE WITHOUT FISCAL REFORMS 

September 6, 2017
Washington, DC

Congress faces numerous deadlines when they return to session in September. In addition to funding the government, providing relief for victims of Hurricane Harvey, and reauthorizing several major programs, they face a debt limit expiration.

Conservatives oppose any debt ceiling increase unless it includes major fiscal reforms that immediately put the country on a path to balance.

That these reforms are necessary is self-evident. The debt now stands at 77 percent of the Gross Domestic Product (GDP) – the highest level since shortly after World War II. Last year, the Congressional Budget Office estimated that the U.S. debt would balloon to 150 percent of economic output by 2047 unless tax and spending laws are changed. As Harvard economists Carmen Reinhart and Kenneth Rogoff have concluded, a debt to GDP ratio of above 90 percent all but grinds economic growth to a halt.

The timing of this debt limit increase is particularly compelling given the previous progress conservatives have made on fiscal issues under a Democratic administration and Democratic Senate. The Budget Control Act – the most significant progress conservatives have made in decades – was passed as part of a debt limit negotiation with a Democrat president and a Democrat majority in the Senate.

With Republicans in unified control of the government this time around, settling for minor reforms – or, worse, for a debt ceiling increase with no reforms – would be a squandered opportunity.

Now is the time for Congress to cut the credit card. The debt ceiling should not be raised absent significant fiscal reforms that put the country on a path to balance. Any less would be a wasted opportunity to reform a fiscal system that is hurtling toward disaster.

Read the full letter:
http://conservativeactionproject.com/no-debt-limit-increase-without-fiscal-reforms/

  
    
Subscribe RSS

Latest Updates

Bossie: The Las Vegas attack's unsung heroes - say a prayer of thanks for our first responders

Monday was a dark day in American history. The massacre...

Citizens United President David N. Bossie to receive the Ronald Reagan Legacy Award from the Conservative Party of New York State on October 12!

Citizens United President David N. Bossie to receive the Ronald...

President Trump Support Reform At The UN

President Trump has supported reform at the United Nations for...

President Trump has called getting tax reform signed into law...

CU In The News

WSJ: The Citizens United Disaster That Wasn’t

Critics warned that a flood of corporate money would irreparably...

Over 100 National Leaders Send Message to McConnell: Confirm Trump Nominees ‘Now’

"The Conservative Action Project (CAP) Memo is signed by a...

Reuters: U.S. visas to six Muslim nations drop after Supreme Court backs travel ban

Michael Boos, general counsel for the conservative nonprofit Citizens United,...

CU President David Bossie appears on Fox News to discuss the Graham-Cassidy Obamacare replacement bill

Citizens United President David Bossie appears on Fox News to...

David Bossie at CPAC 2017

© 2017 - Citizens United - 202-547-5420
1006 Pennsylvania Ave SE - Washington, DC 20003
Privacy Policy