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

Fox News: David Bossie on Strzok Hearing

CU President David N. Bossie appears on Fox News’ Media...

State Department Changes Course in CU FOIA Lawsuit

State Department changes course in CU FOIA lawsuit asking for...

CU & CUF Statement: Supreme Court Upholds President Trump’s Travel Ban Proclamation

The Supreme Court, in a 5-4 ruling, has upheld President...

CU files FOIA for documents relating to October 2016 Christopher Steele political opposition research briefing at State Department

In accordance with the Freedom of Information Act, I hereby...

CU In The News

WSJ: The Free Speech States

What do Alabama, Nebraska, Oregon and Utah have in common?

Wash Times: Obama aide started Christopher Steele-FBI Alliance

A senior Barack Obama State Department official gave the green...

Reuters: Citizens United loses free speech appeal over New York donor rules

NEW YORK (Reuters) - A federal appeals court on Thursday...

Wash Times: Eight years after Obama’s unusual State of the Union attack, Citizens United endures

The Capitol’s chambers are no strangers to violence, though fortunately...

David Bossie at CPAC 2017

© 2018 - Citizens United - 202-547-5420
1006 Pennsylvania Ave SE - Washington, DC 20003
Privacy Policy