![]() The White House has been trying to paint President Biden as the champion of prudent economic stewardship. She recently wrote an opinion piece for The Washington Post, an excerpt of which is below. The 2018-2019 partial shutdown under the Trump administration resulted in economic losses of $1.2 billion each week it was the longest in the nation’s history, lasting 35 days. MAYA MACGUINEAS: So what the president has really here to use is the bully pulpit, meaning once he puts his budget forward, is he going to continue to push some of those ideas, many of which will. Maya MacGuineas is president of the Committee for a Responsible Federal Budget and head of the Campaign to Fix the Debt. Maya MacGuineas from the Committee for a Responsible Federal Budget talked about a recent government report that found the Social Security Trust Fund will have its reserves depleted in 2033, one. ![]() “There is a myth that federal employees are all well paid professionals and that’s just not true.”Ībout a third of the employees the union represents fall into the category of people who make less than $40,000 a year and may not have the financial cushion to keep working without pay, Simon said.įederal employees working through the shutdown get back pay, but that will not help them in the interim.Ī government shutdown does not usually have widespread impacts on the economy unless they drone on for weeks. Thank you, Chairman Carper and Members of the Subcommittee. They have mortgages to pay, insurance payments, car payments, child support,” she said. MAYA MACGUINEAS, PRESIDENT, 1 THE COMMITTEE FOR A RESPONSIBLE BUDGET Ms. Published works by members or staff of the Committee for a Responsible Federal Budget do not necessarily reflect the views of all members or staff of the Committee.Jacqueline Simon, public policy director of the American Federation of Government Employees, the largest union representing over 700,000 government workers, said that for many federal employees, the lack of a paycheck creates tremendous hardship. This is an extraordinary sum, which makes it all the more astonishing that the administration would try to pull off this claim. With interest rates at a 16-year high and surging, its a good time to talk what R versus G means for debt dynamics. Maya MacGuineas, Committee for a Responsible Federal Budget president, says the debt ceiling should be lifted now, but lawmakers are unlikely to do so anytime soon. Since entering office, the president has approved policies adding $4.8 trillion to the deficit over the next decade. Former Labor Secretary Robert Reich and federal budget expert Maya MacGuineas discuss America’s staggering national debt and what should be done about it. ![]() While the 3 trillion of savings proposed in the budget would only go a fraction of the way toward fixing the debt, it is directionally correct and an achievable target for upcoming budget. As temporary covid measures end - and record-high deficits predictably decline - the administration is congratulating itself for that supposed achievement.īut the administration’s record is, sadly, the opposite of what it argues. The President does deserve real credit for putting forward 3 trillion of deficit reduction in addition to paying for his new priorities. Biden’s “record on fiscal responsibility is second to none,” it asserts. She recently wrote an opinion piece for The Washington Post, an excerpt of which is below. I agree that we should think about how to reform the debt ceiling, but I would have grave concerns about eliminating it completely, said Maya MacGuineas, president of the nonpartisan. Maya MacGuineas, president of the Committee for a Responsible Federal Budget, told The Hill on Monday that she backs efforts to offset spending. Maya MacGuineas is president of the Committee for a Responsible Federal Budget and head of the Campaign to Fix the Debt.
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