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Would SAVEGO Be a Reasonable Compromise in Dispute Over Debt Ceiling?

April 26, 2011


The American people have said they want job creation and tax fairness to be a top priority of Congress.  They also want us to be fiscally responsible and reduce the deficit, while we preserve important programs like Social Security and Medicare.  I respect the SAVEGO proposal, but the only alternative which accomplishes these goals is the People’s Budget offered by the Congressional Progressive Caucus. The Republican Budget the House just passed will raise the debt by $6 trillion over the next ten years. But the People's Budget would reduce the deficit by $5.7 trillion and balance the budget in ten years. This debate is really a question of values. If you believe making the rich richer, while ignoring the deficit, will “trickle down” opportunities for all Americans, then the GOP proposal looks good.  But if you remember trickle-down economics failed in the 1980s and believe that all the people of this nation are its greatest resource, then the People’s Budget is the most responsible alternative.