Golden’s remarks on passage of debt commission bill in House Budget Committee
FOR IMMEDIATE RELEASE
Contact: Mario Moretto | 202-748-0282
WASHINGTON — Congressman Jared Golden (ME-02) joined House Budget Committee Chairman Jodey Arrington (TX-19) and a bipartisan group of lawmakers at a news conference in the Capitol today following the House Budget Committee’s vote to pass The Fiscal Commission Act of 2023.
Golden is an original cosponsor of the bill, which would establish a panel of 12 bipartisan lawmakers and 4 independent experts tasked with recommending a proposal to address the national debt, which currently totals more than $34 trillion. The bill is led by 11 Democrats and 11 Republicans and passed the House Budget Committee in a vote on Thursday.
His remarks, as prepared, are shared in their entirety below:
“I’m proud to be a cosponsor of the Fiscal Commission Act, and here’s why: the cold reality is that the national debt, interest payments on that debt, and the insolvency projections for both Social Security and Medicare are all moving in the wrong direction.
“It’s also true that Congress has made a lot of promises to the American people: the promise to reward a lifetime of work with reliable Social Security income. The promise of health care for seniors, for people with disabilities, and for working families struggling to make ends meet. The promise of investments in education and infrastructure to fuel our economy and strengthen communities.
“To keep those promises, we need to get our fiscal house in order. That’s why I’m encouraged that this bill has real bipartisan support from my colleagues — equal numbers from both sides of the aisle — who have come together around a commitment to fiscal responsibility.
“This is not always a popular conversation amongst partisans. It’s easy to lean on sound bites that can make this all seem very simple. People who doubt the gravity of the situation will say the debt doesn’t matter. We can keep spending as we see fit and rely on our country’s great wealth and productivity to safeguard our future and our place in the global economy. Among those who recognize the fiscal challenges we face, many say we must cut, cut, cut, no matter how much the cuts hurt. Others will say we can achieve fiscal health by simply raising taxes.
“Courage dictates we tell the truth: cuts, savings, or new revenue alone will not get our fiscal house in order. We need a comprehensive approach to secure the foundations of our economy and make good on the promises made to the American people.
“This Commission can and should be a place to come together around the solutions we need. I’ve also signed on to a bill that would require the president to include an assessment of the impact budget proposals would have on the debt-to-GDP ratio. That information would provide insights into the management of our debt in its relation to spending and the overall strength of our economy. That requirement would complement the work of this Commission.
“It’s my sincere hope that the Commission — and all of us — will have the courage to take this work seriously, and to not get bogged down by grandstanding, partisanship, or soundbite culture. Because the question of fiscal responsibility is not one to be judged and graded through the lens of political theater. It’s a real-world concern for the American people.
“They deserve their members of Congress to have the courage to find real solutions that get us out of a cycle of borrowing that threatens our fiscal health and our future. This commission can help us do it.”
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