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Issue Position: Fiscal Responsibility

Issue Position

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Bill Foster believes that restoring fiscal balance to the federal government is fundamental to the long-term health of our economy. So, Bill voted against his party's budget every time it has come up because it did not offer an adequate plan to begin paying down our national debt. As the co-chair of the Fiscal Responsibility working group of the New Democrats - a centrist, pro-business group of 70 members of Congress - Bill Foster has been a leader in insisting that the federal government get its' budget under control.

Digging ourselves out from underneath this massive debt first requires understanding how we got here. Then mature and reasonable leaders from both parties must find workable compromises that make economic sense and provide real solutions to our fiscal challenges.

The chart below is a history of the federal budget deficit for the last 30 years, as well as projections for the future under various scenarios.

To solve this, we must have honest discussions and bipartisan solutions. Americans make hard financial decisions every day and government must do the same. All parties must be adult enough to move us forward, and must refrain from partisan posturing and signing unrealistic pledges that make compromise impossible. As the second most centrist member of Congress, Bill intends to be one of those in the middle, hammering out a workable compromise that reproduces the successes of the 1990's at paying down our debts.

Bill Foster is hopeful that the Bipartisan Deficit Commission -- a bipartisan working group -- will help start the conversation that the country must have in order to come to consensus on how to grow our reduce our deficit. Bill also supports a "Line Item Veto" that automatically applies to any budget out of balance.


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