Reconciliation Should Indeed Reduce Budget Deficits

The Republican Study Committee (RSC) Steering Committee released their position calling for deficit reduction in the upcoming budget reconciliation process, writing “Reconciliation legislation must reduce the federal budget deficit. Our national security depends on our ability to bring about meaningful fiscal reform.”

The following is a statement from Maya MacGuineas, president of the Committee for a Responsible Federal Budget: 

The Republican Study Committee is absolutely right—reconciliation needs to reduce the deficit. We need to do so without games, gimmicks or magical thinking. Current budget projections are that we will borrow $22 trillion over the next decade, leading to massive deficits, debt and interest payments. This is nothing short of dangerous, and at this point no legislation should worsen that trajectory, and at the very least, policymakers should make a simple commitment to No New Borrowing until we get the national debt under control.  

For too many years, too many politicians have lamely justified more borrowing for their favorite policies, despite the harm it creates for American families, the economy, and our national security.

Thank you to the RSC for sticking to their principles and insisting that reconciliation leads to less borrowing, not more.  

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For more information, please contact Matt Klucher, Assistant Director of Media Relations, at klucher@crfb.org.