Transcript Simpson-Bowles Recommendations Enacted

The Campaign to
Fix the Debt
*Projections based on CRFB calculations of CBO Alternative Fiscal Scenario. Generally assumes current law, with the following exceptions: all expiring income and estate tax cuts and AMT patches are extended,
scheduled cuts to Medicare physicians are waived, scheduled sequester cuts are waived, revenues and non-entitlement spending grow at the same rate as the economy after 2022, and cost-saving measures
from the Affordable Care Act are only partially successful over the long-term.
We need $4 trillion in savings this decade.
Projected
Debt
A comprehensive debt
plan will help stabilize
debt as a share of the
economy
$2,500
Simpson-Bowles: $4 trillion in deficit reduction recommended
To date: $1.3 trillion in reduction and $1 trillion in mindless cuts
$2,000
$1,500
$1,000
$500
$0
Simpson-Bowles Recommendations
Enacted Savings
The average American will earn
$9000 more per year if we fix the
debt
Source: CBO, Alternative Fiscal Scenario and Current Law Data