Blue Dogs Join the Call for Fiscal Reform
Today, the Blue Dog coalition released its blueprint for fiscal reform. The group, comprised of moderate and conservative Democrats, has long been known for its commitment to fiscal responsibility. But the plan takes another step by calling for a specific fiscal goal. It also recommends a variety of budget process tools such as reinstating PAYGO rules, performance-based budgeting, and more attention to the long-term fiscal outlook in the budget resolution. The plan also supports the establishment of a bipartisan fiscal commission.
The plan calls for a sustainable debt goal of 60 percent of GDP (the fiscal goal that the Peterson-Pew Commission on Budget Reform recommended in its Red Ink Rising report and that was echoed by the National Academy of Public Administration’s study earlier this month). The Peterson-Pew Commission acknowledged that there is no one single “right” goal but committing to a credible fiscal goal that is sufficient to reassure global credit markets is the important thing. It’s nice to see that members of Congress recognize the importance of setting a fiscal goal and we commend this and other proposals to address our nation’s fiscal crisis.