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Bowles, Simpson Call for Select Committee to 'Go Big'

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FOR IMMEDIATE RELEASE

WASHINGTON, DC -- Today, a bipartisan group of over 60 former politicians, budget and economic experts, and business leaders sent a letter to the Joint Select Committee on Deficit Reduction ("Select Committee") urging them to "Go Big" on deficit. Fiscal Commission and Moment of Truth project co-chairs Erskine Bowles and Senator Alan Simpson, who signed the letter, released the following statement: 

"Today, more than 60 business leaders, economists, and former government officials from across the political spectrum have joined with us in signing onto a letter urging the Select Committee to "Go Big" and exceed its mandate in order to truly address our nation's fiscal challenges.Big problems demand big solutions.  And if ever there were a big problem it would be our pending fiscal crisis.  The Select Committee is tasked with finding at least $1.5 trillion in deficit reduction - and the focus must be on "at least," given the deep hole we are currently in.

We need a solution that is substantial enough to stabilize and begin reducing the debt as a percentage of GDP.  We need to Go Big in order to reassure the financial markets, restore public confidence, and create the foundation for long-term economic growth and prosperity. 

The Select Committee has been given a big task, but also the power to come up with a big solution. In our experience as Co-Chairman of the National Commission on Fiscal Responsibility and Reform, we found that the more comprehensive we made our plan, the easier our job was.  The stronger we made it, the more support we got.

It is difficult in Washington to do anything big and bold, particularly in only a few months.But we don't have the luxury of time to deal with our fiscal problems. 

The committee needs to work in a bipartisan way to take on all the drivers of our debt; and it needs to do so in the spirit of shared sacrifice. As we wrote in our report, "The problem is real. The solution will be painful. There is no easy way out. Everything must be on the table."  This is the moment of truth, we must Go Big." 

 

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The Moment of Truth project is a non-profit, non-partisan effort which seeks to foster honest discussion about the nation's fiscal challenges, the difficult choices that must be made to solve them, and the potential for bipartisan compromise that can move the debate forward and set our country on a sustainable path. The Moment of Truth project is a project of the Committee for a Responsible Federal Budget.

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Sep 12, 2011
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Today, more than 60 business leaders, economists, and former government officials from across the political spectrum have joined with us in signing onto a letter urging the Select Committee to "Go Big" and exceed its mandate in order to truly address our nation's fiscal challenges.Big problems demand big solutions. And if ever there were a big problem it would be our pending fiscal crisis. The Select Committee is tasked with finding at least $1.5 trillion in deficit reduction - and the focus must be on "at least," given the deep hole we are currently in.