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Join the campaign aiming to stabilize the economy by fixing the national debt projections. Based on calculations from the CRFB using the CBO Alternative Fiscal Scenario, the plan involves extending income and estate tax cuts, waiving Medicare physician cuts and sequester cuts, and aligning spending with economic growth post-2022. A $4 trillion saving goal for this decade is crucial. The Simpson-Bowles report recommends $4 trillion in deficit reduction, with $1.3 trillion achieved so far and $1 trillion in necessary cuts. By implementing a comprehensive debt plan, we can secure a brighter financial future, with the average American potentially earning $9000 more annually. Sources include CBO data on the Alternative Fiscal Scenario and Current Law.
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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.
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
