Committee for a Responsible Federal Budget

Minnesotan Praise for "Debate the Debt"

May 29, 2012 | Budgets & Projections

CRFB has called for this year’s presidential candidates to "Debate the Debt" by dedicating one of the three presidential debates to proposals for putting the federal debt on a sustainable path. More and more Americans, from all walks of life, are joining the call.

Today’s St. Paul Pioneer Press features an op-ed by Williston Group President Chuck Slocum, who urges the candidates to debate the debt and who praises CRFB and in particular three Minnesotan veterans of Congress for their efforts for fiscal responsibility and sustainability – CRFB Co-Chairs Bill Frenzel and Tim Penny along with a third CRFB Board member, former Rep. Martin Sabo.

What concerns Frenzel, Penny and Sabo is that the nation is now borrowing 40 cents of every dollar spent and that what they call "a $7 trillion fiscal cliff" is looming at the end of the 2012. They and others at CRFB believe that the nation's debt is on "an unsustainable path" and that the American electorate must better understand the situation prior to selecting its president on November 6.

At the proposed debate, each presidential candidate would present and defend his own plan to achieve the amount of savings needed to stabilize the national debt as a percentage of GDP. A skilled moderator would lead the candidates through a discussion of their spending and revenue proposals. The plans could be scored by outside experts ahead of the debates so the televised discussion "wouldn't get bogged down with accusations of inaccurate math," the CRFB suggested.

Please join all of us and sign the petition for candidates to Debate the Debt!