James Benoit of Anne Arundel County in Maryland joined a diverse group of concerned individuals from across the country to converge on Washington, DC, to call on lawmakers to address the rapidly approaching fiscal cliff and the country’s long-term federal debt problems. Councilman Benoit joined representatives from eight states urging immediate and meaningful reforms to protect the U.S. economy.
“As a business owner and someone who has served in an elected position, I understand the importance of facing a tough decision head on. A double dip recession is one of the consequences the United States faces if Congress can’t agree to even a short-term solution to our debt,” said the Hon. James Benoit, CEO of Federal Data Systems and an Anne Arundel County Councilman (D).
“Marylanders, like most Americans, are unsure about whether Congress and the White House will reach an agreement on the fiscal cliff before the January 1 deadline. However, they have no choice. They must strike a deal, and they must do it soon,” said Michael Cryor, former Maryland Democratic Party Chairman (D).
“In order to confidently make the necessary investments in innovation and growth, both large and small Maryland businesses are desperately seeking the assurance that a national answer will be found to avoid going over the fiscal cliff. The White House and the Congress must craft a long-term solution to restore our nation’s economic health,” said Ben Wu, Vice Chair of the US-Asia Institute and former Asst. Secretary of the U.S Department of Commerce (R).
Today, the national debt exceeds $16 trillion and continues to grow. On January 1, the country faces a hazardous combination of spending cuts and tax expirations – known as the “fiscal cliff” – that the Congressional Budget Office predicts would cause the economy to shrink in 2013.
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- CBO Looks at the Long Term 07/15/2014
- How the National Debt Affects You 07/10/2014