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FEBRUARY 14, 2011

PRESS CONTACT: Steven Chlapecka - schlapecka@ppionline.org, T: 202.525.3931

STATEMENT: PPI Asks President to Match Fiscal Commission Steps to Restore Fiscal Sanity and Sound National Budgeting

WASHINGTON, D.C. - Today, the president should be applauded for acknowledging the real threat of our burgeoning national debt and for offering a plan that begins the process of reducing our deficits in the near term. Unfortunately, this plan falls short of what is needed to restore fiscal sanity and sound national budgeting. As long as the administration and Congress continue to focus primarily on cutting discretionary spending while ignoring entitlements, tax reform, tax expenditures, and our broken budget process, this nation's fiscal future will remain gloomy and the prospects for long-term economic growth uncertain.

While the economic recovery remains fragile, both sides should still come together and agree to a real deficit reduction plan now, one that can take effect when the recovery is in full swing. A good first step would be for The administration and Congress to match the $4 trillion in deficit reduction proposed by the president's National Commission on Fiscal Responsibility and Reform. Doing so would provide the very kind of economic stimulus the nation needs, by giving American businesses and consumers some certainty about our nation's fiscal future.

Statement by Paul Weinstein Jr.
Former Senior Advisor to the President's National Commission on Fiscal Responsibility and Reform and PPI Senior Fellow

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The Progressive Policy Institute is an independent research institution founded in 1989 that seeks to define and promote a new progressive politics in the 21st century. Through policy analysis and dialogue, PPI challenges the status quo and advocates for radical policy solutions.

For more information, please contact Steven Chlapecka at schlapecka@ppionline.org, 202.525.3931 (office), 202.556.1752 (cell).

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