The Campaign to Fix the Debt One Pager [Download the PDF]
The Campaign to Fix the Debt is a non-partisan campaign to put America on a better fiscal and economic path.
We come together from a variety of social, economic and political perspectives, united in a common belief that America’s growing federal debt threatens our future and that we must address it.
The Campaign will mobilize key communities – including leaders from business, government, and policy – and voters across America who expect our elected officials to implement a comprehensive plan to fix our long-term debt and deficits.
In our history, America has always been able to come together to tackle its greatest challenges, and it’s time to do it again.
The Campaign is not pushing any one plan in particular, but rather supporters believe that the following core principles should guide the process:
Policymakers should acknowledge that our growing debt is a serious threat to the economic well-being and security of the United States.
It is urgent and essential that we put in place a plan to fix America’s debt. An effective plan must stabilize the debt as a share of the economy, and put it on a downward path.
This plan should be enacted now, but implemented gradually to protect the fragile economic recovery and to give Americans time to prepare for the changes in the federal budget.
In order to develop a fiscal plan that can succeed both financially and politically, it must be bipartisan and reforms to all areas of the budget should be included. The plan should:
Reform Medicare and Medicaid, improve efficiency in the overall health care system, and limit future cost growth;
Strengthen Social Security, so that it is solvent and will be there for future beneficiaries; and
Include comprehensive and pro-growth tax reform, which broadens the base, lowers rates, raises revenues, and reduces the deficit.
- The recommendations of the Simpson-Bowles Commission, the Domenici-Rivlin Task Force, and other recent bipartisan efforts – which each addressed all parts of the budget – provide effective frameworks for such a plan.
The plan should be conducive to long-term economic growth, protect the vulnerable, include credible enforcement mechanisms to ensure that the debt reduction is achieved, and leave the next generation better off.
The Campaign to Fix the Debt is operated by the Committee for a Responsible Federal Budget, under the leadership of Maya MacGuineas. Since 1981, the Committee for a Responsible Federal Budget has been a leading voice in Washington for fiscal responsibility and budget reform. The organization draws on its solid reputation as a provider of objective research and analysis, and takes guidance from a distinguished, bipartisan Board of Directors comprised of many of the former leaders of the Congressional Budget Office, the Office of Management and Budget, the Government Accountability Office, the congressional budget committees, and the Federal Reserve.
The Campaign’s Steering Committee is comprised of a bipartisan group of national leaders including: Mayor Michael Bloomberg, Erskine Bowles, Governor Phil Bredesen, Senator Kent Conrad, Dave Cote, Congressman Vic Fazio, Senator Judd Gregg, James Lee, Congressman Jim McCrery, Senator Sam Nunn, Congressman Jim Nussle, Michael Peterson, Steve Rattner, Governor Ed Rendell, Alice Rivlin, Senator Al Simpson, Mayor Scott Smith, Mayor Antonio Villaraigosa and Ambassador Bob Zoellick.
The Campaign will work closely with its CEO Fiscal Leadership Council, made up of over 100 CEOs and business leaders who support a comprehensive debt deal.
Concerned Americans are encouraged to sign the Citizen’s Petition to Fix the Debt and join the campaign at http://www.fixthedebt.org/.