The United States is not the only country in the world who has, or is, facing fiscal problems. Our neighbor to the north faced some severe fiscal problems during the mid-1990s when they had high budget deficits and when the Mexican peso crisis seemed to make Canada the next focus of international worries.
CRFB President Maya MacGuineas writes in today's The Hill that as Congress returns home for another recess, there is plenty of evidence that continuing to kick the can down the road will no longer work.
Today, the Concord Coalition and Next 10 released a new budget simulator that allows participants to choose for themselves how to reduce our unsustainable budget deficit. The simulator presents a wide range of options on both the spending and revenue sides, and calculates with interest what the budget deficit or surplus would be over the next 10 years.
Event Recap: "National Security Implications of America's Debt and Bipartisan Plans to Address the Solution"
The second of four Strengthening of America—Our Children's Future forums was held today on national security and the national debt. The event featured two panels, the first discussing the national security threat excessive debt poses, while the second panel presented the possible solutions of Bowles Simpson and Domenici-Rivlin.
The Center for Strategic and International Studies hosted an event today chaired by former Senators Sam Nunn (D-GA), who is a member of the steering committee for the Campaign to Fix the Debt, and Pete Domenici (R-NM) entitled "Economic and Foreign Policy Implications of America's Debt." It featured comments from former Treasury Secretary Robert Rubin, former Treasury Secretary and Secretary of State James Baker, and a panel of former members of Congress.
The Committee for a Responsible Federal Budget, along with many others, have been calling on the presidential candidates to Debate the Debt, and more recently calling on each debate's moderator to devote the neccessary time to a discussion of our unsustainable federal debt and each candidate's plan to fix it.
In a Washington Post column entitled "It's Time for the Grown-Ups to Step Up in Washington," Fortune magazine senior editors Allan Sloan and Geoff Colvin make recommendations for lawmakers to follow if they want to "grow up," as they put it.
We have talked before about the long run unsustainable growth of our health care spending. But when it comes to controlling Medicare and Medicaid costs, there will inevitably be plenty of room for political attacks. In a video and an accompanying article in The Wall Street Journal, David Wessel explains that health care spending deserves reasoning, not rhetoric.
Considering our nation's debt situation, it is more important that ever to ensure that those seeking office have a plan to take on the issue. It's why we have urged debate moderators to ask serious questions about our fiscal problems in the debates this October with the Debate The Debt petition. But it's not all up to the moderators, because citizens can have a big impact on making candidates focus on the right kinds of questions in town hall meeting and along the campaign trail.