Blue Dogs Endorse 3% Resolution

On February 5, the Blue Dog Coalition endorsed a recently introduced resolution that supports a 3% deficit-to-Gross Domestic Product (GDP) target. The coalition stressed the importance of addressing Congress’s fiscal irresponsibility to alleviate the financial strain Americans face. Their statement noted that “aggressive yet realistic targets” can improve the lives of everyday Americans and bring down costs for the government.

The 3% resolution is led by Representatives Bill Huizenga (R-MI) and Scott Peters (D-CA), co-chairs of the Bipartisan Fiscal Forum, as well as the group’s entire steering committee, which includes Representatives Marie Gluesenkamp Perez (D-WA) and Jared Golden (D-ME), co-chair and member of the Blue Dogs, respectively, and Representatives Lloyd Smucker (R-PA) and Mike Quigley (D-IL). As we recently wrote, the resolution would express the sense of the House of Representatives that the United States should reduce deficits to 3% of GDP or less. The resolution identifies several enforcement mechanisms the House could adopt and would encourage the President to send budget proposals to Congress designed to meet the 3% target.

The Blue Dog Coalition’s endorsement adds to a growing list of bipartisan lawmakers, former officials, and financial experts who have expressed support for a 3% deficit-to-GDP target and who are increasingly concerned about the nation’s fiscal outlook as our rising debt and interest costs strain the federal budget. Interest payments alone will total $1 trillion or more annually over the next decade, underscoring the need for lawmakers to tackle our fiscal challenges. The broad support for a 3% target reflects the bipartisan interest in identifying deficit-reduction goals that are achievable and compatible with long-term budget sustainability.