Testifying on long-term deficits before the House Budget Committee, Maya MacGuineas stated that "what was once a long-term fiscal problem has become an immediate one." She also explained that "we no longer have time on our side," and that the economic risks of doing nothing are tremendous. The best approach would be to immediately commit to and develop a credible plan to stabilize the debt, with policies phasing in gradually as the economy recovers.
Testifying on long-term deficits before the House Budget Committee, Maya MacGuineas stated that "what was once a long-term fiscal problem has become an immediate one." She also explained that "we no longer have time on our side," and that the economic risks of doing nothing are tremendous. The best approach would be to immediately commit to and develop a credible plan to stabilize the debt, with policies phasing in gradually as the economy recovers.
Links:
[1] http://budgetreform.org/sites/default/files/MacGuineasTestimony_on_Long-Term_Deficits.pdf
[2] http://budgetreform.org/sites/default/files/capitol_0.JPG
[3] http://budgetreform.org/category/issue-area/deficits-and-debt
[4] http://budgetreform.org/category/project/peterson-pew-budget-reform-commission
[5] http://budgetreform.org/category/issue-area/process-and-rules
[6] http://budgetreform.org/category/document-type/congressional-testimony
