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    Committee For a Responsible Federal Budget
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    The Committee for a Responsible Federal Budget announced the urgent need for policymakers to develop a credible fiscal plan to reduce future government borrowing. While the economy is too weak to reduce the deficit now, a plan must be announced and implemented once the economy recovers to avert a fiscal crisis. The plan should be bipartisan, specific in its policies and timelines, and reassure creditors that lending to the US remains a sound investment. Without a credible recovery plan, interest rates could rise and destabilize the economic recovery.

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    The Committee for a Responsible Federal Budget announced the urgent need for policymakers to develop a credible fiscal plan to reduce future government borrowing. While the economy is too weak to reduce the deficit now, a plan must be announced and implemented once the economy recovers to avert a fiscal crisis. The plan should be bipartisan, specific in its policies and timelines, and reassure creditors that lending to the US remains a sound investment. Without a credible recovery plan, interest rates could rise and destabilize the economic recovery.

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    28 views1 page

    Plan Press Release

    Uploaded by

    Committee For a Responsible Federal Budget
    The Committee for a Responsible Federal Budget announced the urgent need for policymakers to develop a credible fiscal plan to reduce future government borrowing. While the economy is too weak to reduce the deficit now, a plan must be announced and implemented once the economy recovers to avert a fiscal crisis. The plan should be bipartisan, specific in its policies and timelines, and reassure creditors that lending to the US remains a sound investment. Without a credible recovery plan, interest rates could rise and destabilize the economic recovery.

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    Fiscal Roadmap Project

    CHAIRMEN
    BILL FRENZEL
    TIM PENNY
    CRFB Calls for Fiscal Recovery Plan
    CHARLIE STENHOLM July 9, 2009
    PRESIDENT
    MAYA MACGUINEAS
    Today, the Committee for a Responsible Federal Budget announced that it
    believes there is an urgent need for policymakers to develop a credible fiscal
    DIRECTORS plan to reduce future government borrowing needs.
    BARRY ANDERSON
    ROY ASH
    CHARLES BOWSHER
    “While the economy is too weak for policymakers to start reducing the deficit
    STEVE COLL
    DAN CRIPPEN now, we need to take action to avert a fiscal crisis on the back of this
    VIC FAZIO
    economic and financial crisis,” said Maya MacGuineas, President of the
    WILLIS GRADISON
    WILLIAM GRAY, III Committee for a Responsible Federal Budget. “The best way to do that is to
    WILLIAM HOAGLAND
    announce the plan now that will be put in place once the economy is strong
    DOUGLAS HOLTZ-EAKIN
    JIM JONES enough.”
    LOU KERR
    JIM KOLBE
    JAMES LYNN “Announcing a specific plan to reduce future deficits would reassure our
    JAMES MCINTYRE, JR. creditors that lending money to the U.S. is still a worthwhile investment.
    DAVID MINGE
    JIM NUSSLE Without a credible plan, we risk upward pressure on interest rates, which
    MARNE OBERNAUER, JR. could destabilize the recovery. To be convincing, any plan needs to be
    JUNE O’NEILL
    RUDOLPH PENNER specific and have buy-in from policymakers of both parties. President Obama
    PETER PETERSON should immediately hold a bipartisan summit to hash out the details of a
    ROBERT REISCHAUER
    ALICE RIVLIN Fiscal Recovery Plan,” said MacGuineas.
    GENE STEUERLE
    DAVID STOCKMAN
    PAUL VOLCKER
    CAROL COX WAIT Go here for a PDF version of “Time to Develop a Fiscal Recovery Plan”:
    DAVID M. WALKER
    JOSEPH WRIGHT, JR. http://www.crfb.org/documents/FRM_RecoveryPlan_000.pdf.

    SENIOR ADVISORS For press inquires, please contact (202) 986-6599 or CRFB@newamerica.net.
    HENRY BELLMON
    ELMER STAATS ***
    ROBERT STRAUSS

    1899 L Street NW • Suite 400 • Washington, DC 20036 • Phone: 202-986-2700 • Fax: 202-986-3696 • www.crfb.org / www.usbudgetwatch.org

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