Please select your state
so that we can show you the most relevant content.

AFP: Budget Deal is a Direct Path to the CBO’s Worst-Case Crisis

Jul 23, 2019 by AFP

Grassroots group urges Congress to tackle biggest drivers of national debt

Arlington, Va. – Americans for Prosperity expressed opposition Tuesday to a reported budget deal that would raise spending levels by $320 billion and extend the debt limit until at least 2021, adding about $2 trillion to the national debt over the next 10 years.

According to the Congressional Budget Office (CBO), the U.S. is on a trajectory to see spending and debt explode, with public debt reaching 185% of GDP in 30 years. But even that’s a rosy scenario which assumes Congress sticks to the budget caps.  This deal would put us squarely on target to see the worst-case scenario projected by the CBO of spending soaring to 33% of GDP and debt spiraling to 219% of GDP. Congress should consider a plan that either sticks with the spending caps, or allows for restrained growth in discretionary spending, and coupled with reforms to mandatory spending. A menu of options for such reforms can be found here in AFP’s latest report on the spending and debt crisis.

Americans for Prosperity President Tim Phillips issued the following statement:

“This is another shameful example of Washington coming together to leverage a crisis— this time around the debt ceiling limit—to push for more spending. We have to break this cycle of budgeting by crisis and realign incentives for lawmakers to pursue serious reforms to both discretionary and mandatory spending. The American people shouldn’t be forced to stomach yet another egregious spending deal simply because lawmakers don’t have the guts to address the real problem. Americans deserve better and lawmakers should stay in Washington until they can deliver something that shows a modicum of fiscal responsibility.”

For further information or to set up an interview, please send an email to GCipriano@afphq.org.

Through broad-based grassroots outreach, Americans for Prosperity (AFP) is driving long-term solutions to the country’s biggest problems. AFP activists engage friends and neighbors on key issues and encourage them to take an active role in building a culture of mutual benefit, where people succeed by helping one another. AFP recruits and unites activists in 35 states behind a common goal of advancing policies that will help people improve their lives. For more information, visit www.AmericansForProsperity.org

###