The Campaign to Fix the Debt

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

Discre

tionar

y

Health

Care

Social

Secu...

Other

Spe..

.

Reven

ue

Intere

st

Seques

ter

$0

$500

$1,000

$1,500

$2,000

$2,500

Simpson-Bowles RecommendationsEnacted Savings

Simpson-Bowles: $4 trillion in deficit reduction recommended

To date: $1.3 trillion in reduction and $1 trillion in mindless cuts

The average American will earn $9000 more per year if we fix the debt

Source: CBO, Alternative Fiscal Scenario and Current Law Data