Maya MacGuineas, president of the Committee for a Responsible Federal Budget penned an excellent op-ed in today’s issue of The Coeur d’Alene Press, and notes:
Public debt is equal to more than 70 percent of the U.S. economy and is on track to rise well over 100 and 200 percent in the next few decades. That’s way above historical levels we’ve experienced here in the U.S., where debt has averaged about 40 percent of our economy, and way above levels economists consider to be safe …
Ms. MacGuineas is in Idaho to join Senator Mike Crapo and Congressman Mike Simpson at the Idaho Statehouse to discuss elements of a bipartisan way forward to solve our debt issues before the country goes over the “fiscal cliff.”
As a member of the U.S. Senate’s “Gang of Six” and the Bowles-Simpson Commission, Sen. Crapo has been working to expand support for a wide agreement on spending reduction, entitlement reform, tax reform, and budget process reform, with a goal of producing significant economic growth, new job creation and debt reduction.
National Debt and You