Statement from the Campaign to Fix the Debt: Hold Your Applause

Jan 03, 2013, 12:27 ET from Campaign to Fix the Debt

WASHINGTON, Jan. 3, 2013 /PRNewswire-USNewswire/ -- The following is a statement from Campaign to Fix the Debt Co-Chairs Mayor Michael Bloomberg, Sen. Judd Gregg, and Gov. Ed Rendell, and Campaign leader Maya MacGuineas:

"Tuesday night's rather inglorious end to the fiscal cliff fiasco simply re-enforces how difficult it is for the President and Congress to undertake substantive action to alleviate our nation's massive and reckless deficit and debt situation. The result of last night's action is that a self-imposed deadline – the purpose of which was to address our debt problem – was turned into action that essentially solved nothing and did little more than kick the can down the road. This Administration and Congress will now need to turn to the real issues that plague our nation's fiscal future, such as entitlement reform and tax reform, if we are to actually restore our long-term economic health and our children's right to have passed on to them a solvent nation.

"Clearly, it is not yet time for standing ovations and slaps on the back. The deal punts on the most difficult issues and fails to directly address our growing national debt. Failure to responsibly deal with the national debt endangers jobs, standards of living, and government priorities.

"Our elected leaders have not yet met their obligation to future generations: to put it all on the table – revenue, spending, and entitlements – and enact real reform that stabilizes the debt. A new year and a new Congress bring new hope, as well as another opportunity for everyone to rise above their differences and find a solution that's both bipartisan and practical. We are asking our leaders to lead – to be courageous – and to work together for the good of the country. This is so much bigger than special interests, political maneuvering, or the next election. This is about our economy's health, our country's prosperity, and our children's future. We all believe that meaningful reform that stabilizes the debt will lead to economic growth that benefits every American.

"Policymakers must work together and make 2013 the year of reform and the year we fixed the debt. The Campaign to Fix the Debt will continue working with lawmakers from both parties in order to make the tough choices necessary to achieve these goals."

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SOURCE Campaign to Fix the Debt