A group of business and political leaders have teamed up to launch a Missouri chapter of the Campaign to Fix the Debt, a nonpartisan organization formed to call on legislators in Washington to find solutions to the national debt and looming fiscal crisis.
On Nov. 19, Missouri chapter co-chairmen former U.S. Sen. Christopher “Kit” Bond and Gov. Bob Holden participated in the kickoff event, held at the Capitol in Jefferson City. Bond and Holden joined Missouri State Treasurer Clint Zweifel, Lt. Gov. Peter Kinder and others in calling on lawmakers to set aside their political differences to create a credible plan to bring down the national debt, according to a news release.
“No other issue is as important to the welfare of our country as addressing both the immediate and long-term debt problems the country currently faces,” Bond said in the release. “The elections are over. Now, it's time for Washington to work together to create solutions or the economy will tank, jobs will disappear and small businesses will be hit hard.”
In addition, the group is asking legislators to find common ground with regard to tax hikes and spending cuts scheduled to take effect Jan. 1, referred to as the "fiscal cliff."
Rita Needham, executive director of the 180-member Springfield-based Missouri Association of Manufacturers, said Congress has the ability give business owners and others some certainty by finding solutions to U.S. fiscal challenges.
“Missouri manufacturers both large and small are already feeling the effects of uncertainty over whether Congress and the White House will be able to strike a budget deal before January," Needham said in the release. "Manufacturers are not going to hire new workers or invest in new equipment if they can't be certain that a couple of months from now the economy won't be shrinking and businesses struggling even more."
In a separate news release, Missouri Chamber of Commerce and Industry President Dan Mehan said the organization representing more than 2,000 employers across the state is in support of the Campaign to Fix the Debt. He said the chamber believes calling on legislators to reduce the country’s $16 trillion debt by at least $4 trillion would support economic growth in Missouri.
“We have to stop this spiraling debt that will compromise our future prosperity, and the only way to do that is to come together to forge a solution,” Mehan said in the chamber release. He added that the Congressional Budget Office has estimated the value of tax hikes and spending cuts at $600 billion, warning that going over the fiscal cliff could push the nation back into a recession. “I don’t want to be part of leaving my children a legacy of debt.”
Maya MacGuineas, president of the Committee for a Responsible Federal Budget, the group spearheading the Fix the Debt effort, said she is pleased Missourians have joined the cause. According to
FixtheDebt.org, more than 311,000 people have shown support for the Washington D.C.-based group’s mission by signing its citizen’s petition for a “common sense solution” to prevent economic disaster.
“Lawmakers in Washington will need to make some tough decisions and those will be easier if they know that the people they represent do indeed value cooperation and demand a long-term comprehensive agreement over our debt,” MacGuineas said.
