Letter to Congress on the Debt
|Dear Members of Congress,
Today, I delivered remarks on the Senate floor about our government's inability to come together to address our looming national debt and its fast-approaching limit. The clock is running out, and Americans are calling for a comprehensive, bipartisan solution. Yet once again negotiations are at an impasse. Our escalating national debt stands at over $46,000 per citizen - that's an outrageous number that is weighing down our economic recovery, jeopardizing our status as the world's economic leader and threatening our national security.
There's a growing disconnect between what most Americans want - quality roads, a safety net for the sick and elderly, and strong investments in education and research that will develop the well-paying jobs of tomorrow - and our country's ability to pay for them. But I believe we have to be realistic and make tough decisions - on both sides. For example, spending cuts alone won't reduce our deficit. And if those cuts are too deep they will hurt the middle class and prevent us from creating the jobs we need for a full economic recovery. So I believe generating more revenue must at least be part of the solution. There are plenty of wasteful tax loopholes - not tax rate increases, but corporate giveaways through the tax code - that can be closed. Our economic future rests on the fulcrum of this balance: both sides have to come to the negotiating table with skin in the game and agree that nothing is off limits.
If we continue arguing over whether to use the right or left paddle, we'll just keep going in circles until we careen over the edge together. I'm willing to stay in Washington as long as it takes to achieve a sensible, bipartisan plan that puts our country back on track. We already have a template: The President's National Commission on Fiscal Responsibility and Reform, chaired by Erskine Bowles and Alan Simpson, came up with a set of recommendations that would reduce the debt by over $4 trillion over the next decade, including spending cuts, reasonable entitlement reform and revenues generated from closing special interest tax expenditures. Now let's start paddling in unison.
Senator Mark Udall. You may unsubscribe at any time.