New York City Mayor Michael Bloomberg today joined the Fix the Debt campaign as a national co-chair. He joins Los Angeles Mayor Antonio Villaraigosa as the first two sitting officeholders on our distinguished, bipartisan steering committee.
In a Washington Post op-ed today explaining his rationale for joining the campaign, Bloomberg says
Business leaders — large and small — understand that Washington cannot continue running up massive deficits without producing collateral consequences, either in the form of higher interest rates, higher inflation or higher taxes. And when these outcomes are unknown, businesses play it safe — by not investing.