Blue Dog Statement on CBO Long-Term Budget Outlook
June 5, 2012
Coalition Urges a Bipartisan, Balanced Solution to Debt Crisis
Today, the fiscally conservative, Democratic Blue Dog Coalition released a statement after the Congressional Budget Office released its 2012 Long-Term Budget Outlook, which projects that by the end of this year, the federal debt will reach roughly 70 percent of gross domestic product (GDP), the highest percentage since shortly after World War II.
"This report makes one thing clear: to continue to ignore this country's debt crisis threatens our economy, our standing in the world and our national security," said Rep. Mike Ross, D-Ark., Blue Dog Co-Chair for Communications. "Our debt crisis didn't start four years ago – it's been decades in the making. The ‘my way or the highway' approach and partisan bickering that has come to define this Congress clearly isn't working and it must change. It's because of moderates that we balanced the budget in the 1990s under President Clinton, and it will be moderates that once again unite this Congress and this country to get the job done for the American people. The Blue Dog Coalition has always stood ready and willing to work with both sides to pass bipartisan, commonsense legislation that reins in deficit spending and gets our economy back on track – a mission we have embraced since 1995 and one we will always fight for."
"Today's long-term budget outlook from the CBO is the most recent in a long line of warnings to Congress that we must put everything on the table and pass a big, balanced and bipartisan deficit reduction package this year," said Rep. Kurt Schrader, D-Ore., Chair of the Blue Dog Task Force on Fiscal Responsibility. "It is no one's responsibility but our own to put this country's financial future back on a fiscally sustainable path and prove that the United States takes it debt and deficit situation seriously. Doing so is the only way to provide the economic certainty needed for our businesses to invest, grow and create jobs here in America."
"Time is money, and for each day we delay, our debt increases by more than $11 billion. The House only has 30 full working days until Election Day to keep us from falling off the year-end fiscal cliff. We should do whatever it takes to enact a balanced, bipartisan plan," said Rep. Jim Cooper, D-Tenn., Co-Chair of the Blue Dog Task Force on Fiscal Responsibility.
The fiscally conservative Democratic Blue Dog Coalition was formed in 1995 with the goal of representing the center of the House of Representatives and appealing to the mainstream values of the American public. The Blue Dogs are dedicated to a core set of beliefs that transcend partisan politics, including a deep commitment to the financial stability and national security of the United States. Visit the Blue Dog website at https://ross.house.gov/BlueDog to learn more. You can also get up-to-the-minute news updates on Twitter at https://www.twitter.com/BlueDogPress.
"This report makes one thing clear: to continue to ignore this country's debt crisis threatens our economy, our standing in the world and our national security," said Rep. Mike Ross, D-Ark., Blue Dog Co-Chair for Communications. "Our debt crisis didn't start four years ago – it's been decades in the making. The ‘my way or the highway' approach and partisan bickering that has come to define this Congress clearly isn't working and it must change. It's because of moderates that we balanced the budget in the 1990s under President Clinton, and it will be moderates that once again unite this Congress and this country to get the job done for the American people. The Blue Dog Coalition has always stood ready and willing to work with both sides to pass bipartisan, commonsense legislation that reins in deficit spending and gets our economy back on track – a mission we have embraced since 1995 and one we will always fight for."
"Today's long-term budget outlook from the CBO is the most recent in a long line of warnings to Congress that we must put everything on the table and pass a big, balanced and bipartisan deficit reduction package this year," said Rep. Kurt Schrader, D-Ore., Chair of the Blue Dog Task Force on Fiscal Responsibility. "It is no one's responsibility but our own to put this country's financial future back on a fiscally sustainable path and prove that the United States takes it debt and deficit situation seriously. Doing so is the only way to provide the economic certainty needed for our businesses to invest, grow and create jobs here in America."
"Time is money, and for each day we delay, our debt increases by more than $11 billion. The House only has 30 full working days until Election Day to keep us from falling off the year-end fiscal cliff. We should do whatever it takes to enact a balanced, bipartisan plan," said Rep. Jim Cooper, D-Tenn., Co-Chair of the Blue Dog Task Force on Fiscal Responsibility.
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The fiscally conservative Democratic Blue Dog Coalition was formed in 1995 with the goal of representing the center of the House of Representatives and appealing to the mainstream values of the American public. The Blue Dogs are dedicated to a core set of beliefs that transcend partisan politics, including a deep commitment to the financial stability and national security of the United States. Visit the Blue Dog website at https://ross.house.gov/BlueDog to learn more. You can also get up-to-the-minute news updates on Twitter at https://www.twitter.com/BlueDogPress.