"These deficits are like a cancer. Over time, they will destroy the country from within"
"Failing to act on the deficit now and leaving our debt to future generations will undermine rather than protect important investments. Growing levels of public debt will crowd out private investment, while increasing interest payments will leave less room for spending on important public investments."
“The budget resolution put forward by Chairman Conrad is based on several key principles that must be part of any responsible fiscal plan... We hope that Chairman Conrad’s colleagues in the Senate follow his leadership in pushing for a bold plan to bring our debt under control and put our fiscal house in order.”
"When the two parties get serious about compromise and getting something done that reduces the deficit by $4 trillion over the next decade, they will turn to something substantive that is very similar to what we have proposed. There just aren't that many other viable options."
Before the year is out, leaders in both parties must reach a principled compromise that stabilizes our debt and puts it on a downward path relative to the economy... Considering how much the country supports a real, balanced approach to the debt, the coming election ought to serve as an incentive to act, not an excuse to kick the can down the road.
"The Cooper-LaTourette amendment is based on several key principles that must be part of any responsible fiscal plan... Unlike the sequester and other changes set to occur at the end of the year, these reforms would be phased in gradually to avoid harming our fragile economic recovery."
A summary of the "Simpson-Bowles" Budget Alternative.
"We are very encouraged to see members of both parties actually working together to put forward a budget based on the recommendations of the Fiscal Commission bipartisan plan to put our nation on a solid path towards fiscal responsibility and reform. We are most certainly on an unsustainable path, and this bipartisan plan makes some sensible choices to achieve long-term fiscal stability."
In the end, Al and I choose to remain optimistic about the chances for fiscal reform and about the future of this country. The political system doesn’t always move quickly or steadily, but the magnitude of the challenges ahead will require it to act.