Mike Murphy: While Congress Makes Budgeting Look Hard, Americans Show How to Do It
Mike Murphy, the Chief of Staff and Director of the Committee for a Responsible Federal Budget's FixUs initiative wrote an op-ed that is featured in Real Clear Policy, an excerpt of which is below:
In addition to governing by crisis and failing to adopt a budget, Washington is slated to welcome another new normal with trillion-dollar deficits expected to return this fiscal year and continue thereafter. And that is just the tip of the iceberg.
National debt held by the public is projected to reach 95 percent of Gross Domestic Product (GDP) within ten years and will exceed the size of the economy if recent tax cuts and spending increases are extended. The long-term fiscal outlook has debt on course to reach levels never seen before, reaching 155 percent of the economy by 2050.
Read the entire piece here.
"My Views" are works published by members or staff of the Committee for a Responsible Federal Budget, but they do not necessarily reflect the views of all members of the committee.