environment where it’s not only good policy, but good politics as well.”…Going over that cliff would “drive a worldwide recession. You can’t let that happen,” Cote said. “So whatwe’re trying to do is get all politicians on all sides mobilized to say, yes, there’s a solution here.”“The math on this is simple. It’s the political will that’s been lacking.”
Tax increases and cuts in entitlement spending are inevitable, members of the Campaign to Fix the Debt saidat a Washington news conference today. The group said it would rally centrist voters who are moreconcerned with reducing thebudget deficitthan ideological battles over taxes, spending and the size of government.Neither party, “even after the election, is going to be able to impose its view on the country or other party,”said former Senator Sam Nunn, a Georgia Democrat. “The middle of America is going to have to rally andthey’re going to have to support people who are willing to work together.”
A new campaign launched Tuesday aims to create public support for lawmakers who have been too afraid toback a bipartisan debt-reduction plan.A key goal of theFix the Debt campaignis to get 10 million signatures for an online petition that will call onCongress to pass a comprehensive long-term plan by July 4, 2013.
"This will be an unprecedented effort with business leaders, former members of Congress and experts fromboth sides of the aisle coming together to speak out and support a plan to fix the debt," said Mayamacguineas, president of the Committee for a Responsible Federal Budget. "But most importantly, it willengage the American people -- who in many ways are well ahead of policymakers on the need to cometogether and tackle this challenge -- to help get the job done."
“If we do nothing and barrel through this fiscal cliff at the end of the year, we are going to have about $7trillion hit this country right in the gut,” said Erskine Bowles, who along with former Sen. Alan Simpsondevised a debt reduction plan last year to prevent thisdoomsday scenario.
“It looks like politics is going to override common sense and nothing is probably going to happen until afterthe election,” Bowles said. “If the members of Congress just start getting ready and just start doing theirhomework then, that’s too late.”That is why Bowles, along with a group of debt reduction experts, former lawmakers, non-profit leaders andFortune 500 companies CEOs, today launched the Fix the Debt campaign, which aims to galvanize publicsupport for a comprehensive debt reduction plan.