Statement by Maya MacGuineas on the Inauguration of Donald Trump

The Committee for a Responsible Federal Budget welcomes Donald Trump and Mike Pence as the President and Vice President of the United States. The new administration takes office at a critical moment for the nation when we face historic challenges that come with historic opportunities.

Debt as a share of the economy is the highest it has ever been for a new president since President Truman. This is the result of past policy decisions and a huge economic downturn.

We are encouraged that President Trump has recognized on multiple occasions the threats posed by the nation’s near-record levels of debt. The current situation cannot continue. The debt is growing faster than the economy, and annual deficits are headed back above one trillion dollars. Unsustainable debt will ultimately cripple our country and stifle the prosperity of American families.

The new president will be working with a Congress that has repeatedly insisted the budget reach balance over a decade. While we believe there are a number of sufficient fiscal goals, it is critical the new administration and Congress agree on a fiscal goal and lay out a plan to achieve it without relying on rosy projections or budget gimmicks.

Growing the economy in a way that benefits American households should be one of our greatest national priorities, and a sound fiscal situation is the foundation of sustainable economic growth.

We welcome the president and vice president and look forward to working with them in building a plan to put the national debt on a sustainable path.

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For more information, contact Patrick Newton, Press Secretary, at newton@crfb.org.