Federal Budget "Most Predictable Crisis in History'

Press Release

Former Wyoming Senator Alan Simpson and Erskine Bowles, the co-chairs of the National Commission on Fiscal Responsibility and Reform, told U.S. Senator Mike Enzi, R-Wyo., and other members of the Senate Budget Committee today that they must act on the commission's proposals because this country faces a crisis.
"I think we face the most predictable economic crisis in history. A lot of us sitting in this room didn't see the last crisis as it came upon us, but this one is really easy to see. The fiscal path we are on today is simply not sustainable," Bowles said. "This debt and these deficits that we are incurring on an annual basis are like a cancer and they are going to truly destroy this country from within unless we have the common sense to do something about it."
"People in America are way ahead of all of you," Simpson said. "They know that if you spend more than you earn, you lose your butt. They know that if you spend a buck and borrow 40 cents of it that you are stupid…this government is stupid to borrow 40 cents for every buck you spend."
Enzi commended Simpson and Bowles for their work on the commission and getting the word out about the severity of the country's budget problem. Enzi also commended President Obama for moving forward with a deficit commission when the Senate failed to pass a bill Enzi cosponsored that would have created a Congressional deficit commission. But Enzi chastised the President for not being more supportive of the President's own commission's recommendations.
"The President missed the opportunity in the state of the union speech to say exactly what you have been saying here today, to inform the people of this country just how desperate the situation is so we can take some positive action on it. I was also disappointed when his budget came out because I think that was another opportunity to show exactly what you had been saying and put some of the commission's proposals into effect," Enzi said. "The American people have figured it out with your help. It's getting clearer and clearer every day. We've got to get Congress to catch up."
Enzi is working to further a bipartisan effort to act on many of the deficit commission's proposals.

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