4-27 Obama Fiscal Responsibility
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CHAIRMAN BILL FRENZEL
CRFB Commends Presidential Call for Fiscal Responsibility April 27, 2009
PRESIDENT MAYA MACGUINEAS
DIRECTORS BARRY ANDERSON ROY ASH CHARLES BOWSHER STEVE COLL DAN CRIPPEN VIC FAZIO WILLIS GRADISON WILLIAM GRAY, III WILLIAM HOAGLAND DOUGLAS HOLTZ-EAKIN JIM JONES LOU KERR JIM KOLBE JAMES LYNN JAMES MCINTYRE, JR. DAVID MINGE JIM NUSSLE MARNE OBERNAUER, JR. JUNE O’NEILL RUDOLPH PENNER TIM PENNY PETER PETERSON ROBERT REISCHAUER ALICE RIVLIN CHARLES W. STENHOLM GENE STEUERLE DAVID STOCKMAN PAUL VOLCKER CAROL COX WAIT DAVID M. WALKER JOSEPH WRIGHT, JR.
SENIOR ADVISORS HENRY BELLMON ELMER STAATS ROBERT STRAUSS
This weekend, President Obama used his Weekly Address to warn of rising deficits and debt and call for fiscal responsibility in government. In particular, the President announced that his administration would work to cut or eliminate 100 government programs, create incentives to reduce wasteful spending, and enact pay-as-you-go (PAYGO) budget rules into law. The Committee for a Responsible Federal Budget (CRFB) is encouraged by the President’s announcement and believes his proposals represent a solid start towards restoring fiscal discipline in Washington. “Enacting PAYGO and cutting wasteful spending are absolutely vital to getting the deficit under control,” said Marc Goldwein, Policy Director for the Committee for a Responsible Federal Budget. “But given the severity of the situation, slowing the bleeding just is not enough. Our government needs to move beyond these measures and begin tax and entitlement reform.” The Committee urges Congress to heed the President’s call for fiscal responsibility through adopting strong budget rules and submitting PAYGO legislation to the President. PAYGO should apply to all mandatory spending and tax cuts, including AMT patches, Medicare pay patches, and the expiring tax cuts. “The President was right – it will take an ‘all hands on deck approach’ to get us back on track,” Goldwein concluded. “We’re going to need broad support for fiscal responsibility if we are to make the tough choices necessary to keep deficits under control.”
1899 L Street NW • Suite 400 • Washington, DC 20036 • Phone: 202-986-2700 • Fax: 202-986-3696 • www.crfb.org
CRFB Commends Presidential Call for Fiscal Responsibility April 27, 2009
PRESIDENT MAYA MACGUINEAS
DIRECTORS BARRY ANDERSON ROY ASH CHARLES BOWSHER STEVE COLL DAN CRIPPEN VIC FAZIO WILLIS GRADISON WILLIAM GRAY, III WILLIAM HOAGLAND DOUGLAS HOLTZ-EAKIN JIM JONES LOU KERR JIM KOLBE JAMES LYNN JAMES MCINTYRE, JR. DAVID MINGE JIM NUSSLE MARNE OBERNAUER, JR. JUNE O’NEILL RUDOLPH PENNER TIM PENNY PETER PETERSON ROBERT REISCHAUER ALICE RIVLIN CHARLES W. STENHOLM GENE STEUERLE DAVID STOCKMAN PAUL VOLCKER CAROL COX WAIT DAVID M. WALKER JOSEPH WRIGHT, JR.
SENIOR ADVISORS HENRY BELLMON ELMER STAATS ROBERT STRAUSS
This weekend, President Obama used his Weekly Address to warn of rising deficits and debt and call for fiscal responsibility in government. In particular, the President announced that his administration would work to cut or eliminate 100 government programs, create incentives to reduce wasteful spending, and enact pay-as-you-go (PAYGO) budget rules into law. The Committee for a Responsible Federal Budget (CRFB) is encouraged by the President’s announcement and believes his proposals represent a solid start towards restoring fiscal discipline in Washington. “Enacting PAYGO and cutting wasteful spending are absolutely vital to getting the deficit under control,” said Marc Goldwein, Policy Director for the Committee for a Responsible Federal Budget. “But given the severity of the situation, slowing the bleeding just is not enough. Our government needs to move beyond these measures and begin tax and entitlement reform.” The Committee urges Congress to heed the President’s call for fiscal responsibility through adopting strong budget rules and submitting PAYGO legislation to the President. PAYGO should apply to all mandatory spending and tax cuts, including AMT patches, Medicare pay patches, and the expiring tax cuts. “The President was right – it will take an ‘all hands on deck approach’ to get us back on track,” Goldwein concluded. “We’re going to need broad support for fiscal responsibility if we are to make the tough choices necessary to keep deficits under control.”
1899 L Street NW • Suite 400 • Washington, DC 20036 • Phone: 202-986-2700 • Fax: 202-986-3696 • www.crfb.org
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