Plan Press Release
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Fiscal Roadmap Project
CHAIRMEN BILL FRENZEL TIM PENNY CHARLIE STENHOLM
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 PETER PETERSON ROBERT REISCHAUER ALICE RIVLIN GENE STEUERLE DAVID STOCKMAN PAUL VOLCKER CAROL COX WAIT DAVID M. WALKER JOSEPH WRIGHT, JR.
SENIOR ADVISORS HENRY BELLMON ELMER STAATS ROBERT STRAUSS
CRFB Calls for Fiscal Recovery Plan July 9, 2009 Today, the Committee for a Responsible Federal Budget announced that it believes there is an urgent need for policymakers to develop a credible fiscal plan to reduce future government borrowing needs. “While the economy is too weak for policymakers to start reducing the deficit now, we need to take action to avert a fiscal crisis on the back of this economic and financial crisis,” said Maya MacGuineas, President of the Committee for a Responsible Federal Budget. “The best way to do that is to announce the plan now that will be put in place once the economy is strong enough.” “Announcing a specific plan to reduce future deficits would reassure our creditors that lending money to the U.S. is still a worthwhile investment. Without a credible plan, we risk upward pressure on interest rates, which could destabilize the recovery. To be convincing, any plan needs to be specific and have buy-in from policymakers of both parties. President Obama should immediately hold a bipartisan summit to hash out the details of a Fiscal Recovery Plan,” said MacGuineas.
Go here for a PDF version of “Time to Develop a Fiscal Recovery Plan”: http://www.crfb.org/documents/FRM_RecoveryPlan_000.pdf. For press inquires, please contact (202) 986-6599 or [email protected]. ***
1899 L Street NW • Suite 400 • Washington, DC 20036 • Phone: 202-986-2700 • Fax: 202-986-3696 • www.crfb.org / www.usbudgetwatch.org
CHAIRMEN BILL FRENZEL TIM PENNY CHARLIE STENHOLM
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 PETER PETERSON ROBERT REISCHAUER ALICE RIVLIN GENE STEUERLE DAVID STOCKMAN PAUL VOLCKER CAROL COX WAIT DAVID M. WALKER JOSEPH WRIGHT, JR.
SENIOR ADVISORS HENRY BELLMON ELMER STAATS ROBERT STRAUSS
CRFB Calls for Fiscal Recovery Plan July 9, 2009 Today, the Committee for a Responsible Federal Budget announced that it believes there is an urgent need for policymakers to develop a credible fiscal plan to reduce future government borrowing needs. “While the economy is too weak for policymakers to start reducing the deficit now, we need to take action to avert a fiscal crisis on the back of this economic and financial crisis,” said Maya MacGuineas, President of the Committee for a Responsible Federal Budget. “The best way to do that is to announce the plan now that will be put in place once the economy is strong enough.” “Announcing a specific plan to reduce future deficits would reassure our creditors that lending money to the U.S. is still a worthwhile investment. Without a credible plan, we risk upward pressure on interest rates, which could destabilize the recovery. To be convincing, any plan needs to be specific and have buy-in from policymakers of both parties. President Obama should immediately hold a bipartisan summit to hash out the details of a Fiscal Recovery Plan,” said MacGuineas.
Go here for a PDF version of “Time to Develop a Fiscal Recovery Plan”: http://www.crfb.org/documents/FRM_RecoveryPlan_000.pdf. For press inquires, please contact (202) 986-6599 or [email protected]. ***
1899 L Street NW • Suite 400 • Washington, DC 20036 • Phone: 202-986-2700 • Fax: 202-986-3696 • www.crfb.org / www.usbudgetwatch.org
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