CRFB Co-Chairman Bill Frenzel Calls for Debt Debate
Bill Frenzel, CRFB co-chairman and former ranking member on the House Budget Committee, made a convincing case for a Presidential debate on specific steps the candidates would take to reduce the debt.
The American people deserve a full debate and discussion on our fiscal problems. With four $1 trillion deficits in row and a debt ratio over 70%, the Washington response of both political parties has been to "kick the can down the road." Kicking the can is political-speak for saddling future generations with this generation's refusal to meet its own obligations.
A fiscal debate would be a challenging but beneficial test for the candidates, and more importantly, it would provide voters a sense of the candidates' priorities. Instead of allowing the candidates to recite campaign talking points, this debate would force them as much as possible to put forward concrete, realistic proposals.
The general idea is to guarantee, insofar as possible, that the candidates respond directly to unpleasant questions about the country's dire financial condition. Candidates love to talk about more tax cuts, and about preserving entitlements. That's easy. The hard part is telling the people about the difficult decisions that must be made so that future generations will not be subjected to slow growth, high interest rates and a lower standard of living.
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"My Views" are works published by members of the Committee for a Responsible Federal Budget, but they do not necessarily reflect the views of all members of the committee.