Citizen Groups Urge Congress and the President to Rein in Federal Debt

WASHINGTON, Feb. 2, 2011 /PRNewswire-USNewswire/ -- Citizen groups originally convened by The Concord Coalition today called on Congress and President Obama to produce "a bold, comprehensive plan to avoid an explosion of federal debt that could devastate the economy, weaken our national security and unfairly burden future generations."

The statement said such a plan would need both spending reductions and tax revenue increases, as recently recommended by the President's National Commission on Fiscal Responsibility and Reform and the Bipartisan Policy Center's Debt Reduction Task Force.

The statement, entitled "The National Debt Is a Real Threat," is being sent today to the White House and members of Congress.  It was developed by Concord's Fiscal Advisory Councils and signed by their leaders and other concerned citizens in Atlanta, Chicago, Los Angeles, Philadelphia, San Francisco, Virginia and Wisconsin.

The Fiscal Advisory Councils have been active over the last two years in studying federal budget issues, helping to educate others in their communities, and taking their concerns to elected officials in Washington.

"We seek to assure the economic growth and fiscal sustainability of this nation free from the encumbrances of growing debt and creditors, whether foreign or domestic; to increase the likelihood that our children and grandchildren will enjoy an enhanced quality of life, and to reduce the widening disparity in incomes and wealth within the U.S. population," the advisory councils said.  "At the core we must regain our national values and replace a pervasive short-term focus with long-term thinking."

The statement expresses concern about a financial crisis unless more responsible fiscal policies are put in place. It also says that sacrifices would be necessary to protect the nation's position of global leadership.

Noting their geographical and political diversity, the advisory councils emphasize the importance of citizens working together to advocate more responsible policies in Washington: "It is clear to us that only when we act as a united, national citizenry can we hope our representatives will listen and act."

Robert L. Bixby, Concord's executive director, said the statement accurately reflected the public anxiety and frustration that his organization sees around the country.

"In city after city, we have found that public sentiment is ahead of elected officials," Bixby said. "Once people understand the magnitude of the challenges facing the United States, they are emphatic in saying they want their elected officials working on a broad, long-range plan to protect the country's future."

The statement is also available at www.concordcoalition.org.

The Concord Coalition is a nonpartisan, grassroots organization dedicated to fiscal responsibility. Former U.S. Senators Warren B. Rudman (R-NH) and Bob Kerrey (D-NE) serve as Concord's co-chairs and former Secretary of Commerce Peter G. Peterson serves as president.

Statement of the Concord Coalition's Fiscal Advisory Councils

The National Debt Is A Real Threat

Mission Statement

By signing this Mission Statement, we join with other Americans of all political persuasions in urging the President and the Congress to promptly develop and approve a bold, comprehensive plan to avoid an explosion of federal debt that could devastate the economy, weaken our national security and unfairly burden future generations. We have concluded that this plan must include spending reductions and increased tax revenues, along the lines recently recommended by two bipartisan national commissions.

We seek to assure the economic growth and fiscal sustainability of this nation free from the encumbrances of growing debt and creditors, whether foreign or domestic; to increase the likelihood that our children and grandchildren will enjoy an enhanced quality of life, and to reduce the widening disparity in incomes and wealth within the U.S. population.

The Issues

At the core we must regain our national values and replace a pervasive short-term focus with long-term thinking. It is about setting national priorities and creating long-term growth; it involves making choices as to how we invest in our future; it concerns ensuring fairness for all citizens from all financial classes and ethnic backgrounds; it means making sacrifices to improve society for our children and grandchildren; it relates to protecting our national standing in the world, securing both our safety and continued leadership role in a rapidly changing environment. Balancing our budget, reining in our national debt and honestly addressing expense and revenue issues are crucial to these goals. We fear a financial crisis if we do not act.

The Two Commission Reports

Recently the President's National Commission on Fiscal Responsibility and Reform and the Bipartisan Policy Center's Debt Reduction Task Force set forth possible solutions to our national debt crisis. The recommendations of these national commissions have been met by a chorus of rejection from some elements of the political left and some from the political right. Some will not think about reductions in government spending and the others will not think about increases in federal revenues. Both are unwilling to compromise across party lines. They count on a lack of public alarm about the debt crisis. We intend to prove them wrong. We ask them to put country before party or uncompromising ideology.

Time for Action

As an active group of people in seven cities, we represent many different localities and political affiliations. We have come together over a period of time, starting out in our own local communities. It is clear to us that only when we act as a united, national citizenry can we hope our representatives will listen and act. We are actively creating an ongoing large and broad, grass-roots signature base coming together for a national effort of united citizens of all ages dedicated to keeping our country strong, with a promising future.

We support this Mission Statement and urge responsible action by Congress and the President to solve America's fiscal and debt problems.

SOURCE The Concord Coalition