The Campaign to Fix the Debt. *Projections based on CRFB calculations of CBO Alternative Fiscal Scenario. Generally assumes current law, with the following.

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Presentation transcript:

The Campaign to Fix the Debt

*Projections based on CRFB calculations of CBO Alternative Fiscal Scenario. Generally assumes current law, with the following exceptions: all expiring income and estate tax cuts and AMT patches are extended, scheduled cuts to Medicare physicians are waived, scheduled sequester cuts are waived, revenues and non-entitlement spending grow at the same rate as the economy after 2022, and cost-saving measures from the Affordable Care Act are only partially successful over the long-term.

We need $4 trillion in savings this decade.

Projected Debt A comprehensive debt plan will help stabilize debt as a share of the economy

Simpson-Bowles: $4 trillion in deficit reduction recommended To date: $1.3 trillion in reduction and $1 trillion in mindless cuts

The average American will earn $9000 more per year if we fix the debt Source: CBO, Alternative Fiscal Scenario and Current Law Data

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