Bipartisan Policy Center Calls for Action on the Nation's Growing Debt Problem

Solutions will require bipartisan leadership and consensus to address voters' concerns about the economy

WASHINGTON, Nov. 3, 2010 /PRNewswire-USNewswire/ -- Former Senate Budget Committee Chairman Pete Domenici and former U.S. Representative and Agriculture Secretary Dan Glickman, both Senior Fellows at the Bipartisan Policy Center (BPC), released the following statement today applauding calls by President Obama and Republican leaders to put partisan differences aside and forge common ground on areas of national concern, including the country's debt.

"The American people – Republicans, Democrats and Independents alike – demanded action yesterday and urged lawmakers to adopt common-sense policies that can move America forward.  America's problems are serious and will require cooperation from both sides of the aisle to develop workable solutions," said Domenici and Glickman.

"Among the key concerns for voters, as seen in yesterday's election, are the issues of spending and the debt.  We believe the country's growing debt is a problem that demands a bipartisan solution."

On November 17, the BPC's Debt Reduction Task Force will announce the results of its year-long effort to find common ground on ways to reduce the nation's debt.  The Task Force, led by Senator Domenici and former White House Budget Director Alice Rivlin, includes 17 other Republicans and Democrats – former White House and Cabinet officials, former Senate and House members, former governors and mayors, and business and labor leaders.

This bipartisan plan will provide a set of recommendations that would reduce and stabilize the debt at less than 60% of the economy, reform personal and corporate taxes to make America more competitive, ensure that Social Security can pay benefits to future generations, and control health care costs.

"The debt owed to other nations by the U.S. poses one of the biggest economic problems we've ever had," said Domenici.  "It must be solved."

"We hope that this blueprint can provide the basis for dialogue and legislative action that ultimately ensures long-term economic growth," said Glickman.  

"For the first time since President Obama assumed office, the country faces divided government.  We do not believe that divided government is necessarily a recipe for gridlock. Quite the contrary, we believe that the new congressional majorities give the nation's leaders and the American people a momentous opportunity to achieve positive change," said Domenici.

"The 2010 midterm campaign is finished and the governing season has officially begun.  In this spirit, we encourage President Obama and Congressional leaders to work together on a bipartisan basis.  We look forward to working with members of both parties to alleviate the nation's debt burden, spur economic expansion, and provide a better future based on sound public policy and faith in principled compromise that benefits all Americans," they said.

About the Bipartisan Policy Center:

In 2007, former U.S. Senate Majority Leaders Howard Baker, Tom Daschle, Bob Dole, and George Mitchell formed the Bipartisan Policy Center (BPC) to develop and promote solutions that can attract the public support and political momentum to achieve real progress. Currently, the BPC focuses on issues including health care, energy, national and homeland security, transportation, science and economic policy. For more information, please visit our website: http://www.bipartisanpolicy.org/. 

SOURCE Bipartisan Policy Center