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President-Elect Obama to Convene Fiscal Responsibility Summit

January 16, 2009
Press Release

Recognizes Concerns Raised by Kind, Others on Country’s Long-term Fiscal Challenges

WASHINGTON, DC –U.S. Rep. Ron Kind (D-WI) today made the following statement after President-elect Obama indicated to the Washington Post that he will convene a Fiscal Responsibility Summit before he presents his first budget to Congress. The summit is in response to concerns raised by Rep. Kind (D-WI), member of the New Democrat Coalition, and others including Majority Leader Hoyer (D-MD), Senate Budget Chairman Conrad (D-ND), and Blue Dog Coalition member Rep. Jim Cooper (D-TN).

“I am pleased President-elect Obama has recognized the need to begin dealing with our long-term fiscal challenges before the next budget. The Economic Recovery Package moving through Congress will essentially double our trillion-dollar 2009 deficit in one-fell-swoop, and while extraordinary times call for extraordinary measures, we simply cannot take an ‘out of sight-out of mind’ attitude to the deficit.

“While I still believe the Stimulus Package is the best vehicle to address the looming deficit, and send a message to the bond markets that we are not simply taking a short-term approach to solving this economic crisis, I appreciate President-elect Obama’s commitment to this issue. I hope to be of help to him and his Administration as we decide how to best address our long-term funding obligations and help ensure that future generations are not stuck with our unpaid bills.”

Read more about President-elect Obama’s plan for a “Fiscal Responsibility Summit” at: https://www.washingtonpost.com/wp-dyn/content/article/2009/01/15/AR2009011504114_pf.html