CRFB Launches "Fiscal Gold Star" Awards! First Winner Goes to Senator Coburn
With a real lack of fiscal sanity running around Washington lately, it's truly refreshing and encouraging to see someone break from party lines, special interests, and all other shackles to make decisions about what's best for our country's fiscal health down the road. Senator Tom Coburn (R-OK) has been doing just that.
Earlier this month as a member of the President's Fiscal Commission, Senator Coburn showed true political courage in supporting the final plan of the Commission. The plan would bring real control to long-term deficits by identifying over $4 trillion in spending cuts and tax increases this decade alone, protecting the most vulnerable in society and leaving no rock unturned in the search for savings and efficiencies.
Additionally, Senator Coburn has continued making the case for fiscal responsibility in the past two weeks. Last week, Senator Coburn made a terrific speech on the Senate floor, presenting what we have labeled "a call to arms" for lawmakers to tackle our fiscal challenges head on. Senator Coburn even added an amendment to the $858 billion tax cut bill to offset $156 billion of it over the next few years. Unfortunately, the amendment was voted down. While the total costs would still have greatly increased deficits this decade even if the amendment had passed, it represented a notable effort. Senator Coburn should also be recognized for voting against the tax cut bill, which is now on its way to the President for his signature.
Our fiscal challenges won't go away by themselves. It is quickly becoming more imperative that Congress and the White House act to stem the tide of rising debt. At least there are lawmakers like Senator Coburn who are forcefully making the case for fiscal responsibility and a deficit reduction plan with both words and actions.
Congratulations, Senator. We wish you all the best next Congress in fighting for the economic future of the country.