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Crapo: $16 Trillion Debt is a "Wake Up Call"

Statement

By:
Date:
Location: Washington, DC

Idaho Senator Mike Crapo said today's announcement by the U.S. Treasury that the U.S. has passed a national gross debt figure of more than $16 trillion can be a "wake up call" for all Americans to pressure Congress, the White House and the private sector to work together on finding a bipartisan solution to the debt crisis. Crapo is a member of the Senate's original "Gang of Six" that has been working on a bipartisan solution for debt reduction that includes spending cuts and caps, tax reform and entitlement reform. He said such a comprehensive agreement is the best way to reduce the debt.

"Many in Congress and on the various debt commissions agree spending is the largest part of equation when it comes to reducing our federal debt," Crapo said. "We can use this $16 trillion debt threshold as a rallying point.

"Spending is not the only issue. A bipartisan agreement to reform our tax code to make it simpler, fairer and more competitive is within reach if we in Congress can continue to show the American public we will work together on a solution. One of the best ways to spur those efforts is for the American public to call us, write us; let us know they want a bipartisan solution to slow spending and speed efforts on tax reform and to keep our entitlement programs solvent for retirees both now and in the future."


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