The following is a statement from Ryan Schoenike, Executive Director of The Can Kicks Back campaign:
The new fiscal framework released today by Erskine Bowles and Alan Simpson exemplifies the kind of bold, balanced and bipartisan plan necessary to give the next generation the same economic opportunity as our parents.
Bowles and Simpson have set the bar for the minimum amount of deficit reduction needed to put our nation’s debt on a clear downward path relative to the economy and stabilize the debt below 70% of GDP: $2.4 trillion in savings over the next decade. And they have shown how to achieve this goal by coupling pro-growth and progressive tax reform with meaningful structural changes to social insurance programs.
Importantly, the new Simpson/Bowles framework replaces the mindless, across-the-board cuts set to take effect next month with smart, targeted reforms that protect worthwhile investments in the future, such as education and infrastructure. This ensures a generationally equitable approach to deficit reduction.
When our elected leaders return from their current weeklong vacation, they should commit to staying in Washington until they solve our debt problem. Finishing the job of deficit reduction means putting our economy on a path toward long-term growth and protecting the future for all generations, not just avoiding the next crisis and kicking the can down the road.
We are grateful to Erskine Bowles and Alan Simpson for once again showing the way forward. Now is time for all generations and both parties to work together and get it done.
The Can Kicks Back (TCKB) is a Millennial-driven campaign to fix the national debt and reclaim our American Dream. TCKB is the Millennial outreach partner of Fix the Debt. More info:www.TheCanKicksBack.org.