It's Not Too Late: Will Republicans Walk Away From Opportunity to Do Something Big On Deficit Reduction?

Fiscal Responsibility

Wanted to be sure you saw this editorial in the Washington Post today on debt limit negotiations. It highlights the opportunity that would be lost if we do not work together on a comprehensive package to seriously address America’s fiscal challenges, which is what Democrats continue to fight for as negotiations proceed.

Key excerpts:

“If this moment could not yield a grand bargain or a even modest adjustment to the nation’s fiscal course, it is hard to imagine what will. An election is always around the corner. The political system is increasingly polarized. Meanwhile, the debt is dangerously swollen and still growing.”

“Even then, no one who cares about the country’s future should cheer a non-solution solution to lifting the debt ceiling. The need to lift the ceiling was, and perhaps still could be, an opportunity to take at least some steps toward fiscal sanity. Mr. Obama was right to try, however late in the game, for a bargain combining new tax revenue with spending reductions, including to entitlement programs. That may be out of reach, but a down payment on fiscal responsibility — a balanced one, combining both tax increases and spending cuts — should not yet be ruled out.”

It’s not too late for a comprehensive agreement to reduce our deficit and ensure America pays its bills. Democrats stand ready and willing to work with Republicans on a balanced package – that includes both revenues and spending cuts. It’s time for Republicans to take responsibility for the debt they helped create and work on a comprehensive agreement to restore our fiscal health and give businesses and the markets certainty they need.