Dealing with Debt

There’s a reason India Times just picked up David Lightman’s story “Rising debt threatens to derail Congress on just about everything.” The world knows the ever-growing federal debt is spiraling out of control.

The Dallas Morning News today also urged Congress to deal with the debt. If not addressed by Congress and the Administration, investors could lose confidence in the U.S. economy and Americans could be faced not only with a lower standard of living, but a real fiscal crisis.

Next Monday, a handful of the country’s most distinguished fiscal experts (if we say so ourselves) is offering a bipartisan proposal for lawmakers and the administration to tackle the debt. With the release of the Peterson-Pew Commission on Budget Reform’s first report – Red Ink Rising: A Call to Action to Stem the Mounting Federal Debt - Alice Rivlin, Bill Frenzel, Charlie Stenholm, Douglas Holtz-Eakin, Jim Nussle and Jim Jones will discuss how to avoid the tremendous global risks posed by the debt, while also taking precautions not to destabilize the still recovering economy. David Wessel is moderating this event which would not have happened without the support of The Pew Charitable Trusts and the Peter G. Peterson Foundation.