NEW YORK--Tamara Draut, Vice President of Policy and Programs at the public policy organization Demos, today released the following statement in response to the "irresponsible" debt ceiling compromise expected to be signed into law today:
"The debt ceiling compromise approved by the House yesterday evening will make sure America can pay its bills - but the near-term and 'trigger' cuts will certainly threaten the ability of American households to pay their bills as economic growth slows even further, and job losses continue under this ill-conceived plan. With 25 million people still unable to find full-time jobs and unemployment insurance close to running out, it's shameful that Republicans in Congress waged ideological warfare over what is typically a pro forma exercise of the Congress.
"The political brinkmanship is indicative of the growing disconnect between conservative leaders and the concerns of the American people. At a time when we need our nation's leaders to step up to the plate to spur job creation and invest in our nation's failing infrastructure, there is very little willingness to engage in the reality-based politics that struggling Americans need.
"Deficit reduction and economic growth are not mutually exclusive, but this proposal trades spending cuts for America's future. It would reduce revenues and domestic spending to Eisenhower levels while preserving historic low tax rates for the richest among us and large tax loopholes for big business. To rebuild our economy and middle class, the 'super congress' must counter these measures with a plan that invests in America, creates jobs and puts the federal budget on a sustainable path."
For a comprehensive plan on investing in our nation's future, reducing deficits and lowering our national debt, please see "Investing in America's Future," a plan by the Economic Policy Institute, The Century Foundation, and Demos.
Tim Rusch, [email protected], 212-389-1407
Lauren Strayer, [email protected], 212-389-1413