Reason to hope for fiscal sanity

We the People are in charge.

Today we have a government that is neither representative of nor responsive to the American people. That can change if Americans insist on accountability and punish unduly partisan and ideological politicians in the voting booth.

The truth is, President Obama—like President Bush (43) before him—has failed to use the powers of his office to champion responsible reforms to the American people. And our leaders on Capitol Hill, both Republican and Democrat, have shown an appalling lack of courage in standing up to the extreme wings of their parties. As long as Republicans kowtow to those resisting any increases in revenue—despite a tripling of our national debt in the last decade—and Democrats knuckle under to those refusing to rein in the unsustainable costs of our social insurance systems, we will remain in political gridlock.

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More than anyone else, I have gauged the will of my fellow citizens when it comes to fixing our government’s financial mismanagement—most recently in a nationwide bus tour through 27 states last fall. Their verdict could not be clearer. In gatherings across the country, with participants of every political stripe, we obtained 92 percent agreement on six key principles to guide a fiscal “grand bargain.” The reforms should lead to economic growth, and be socially equitable, culturally acceptable, mathematically accurate, politically feasible, and able to achieve meaningful bipartisan support.  When we discussed specific reforms, most conservatives and liberals were willing to put aside ideology as long as proposals were deemed to be fair and part of a comprehensive plan.

That tells us that politicians in Washington can gain the public support they need for bold reforms as long as they explain our urgent need to act and then lay out responsible positions. I am convinced that over time political courage and leadership will be rewarded—and cowardice will be punished.

More policymakers are focused on the issue.

There is a growing roll call of present and former government officials who recognize the need to achieve a fiscal grand bargain. During Comeback America Initiative's (CAI) tour last fall, which engaged Americans on our nation’s deteriorating financial condition, we had the explicit support of, among others, two former chairmen of the Federal Reserve, two former chairs of the RNC and DNC, former directors of the Office of Management and Budget, and a who’s who of former governors, senators and representatives from both parties.

It is also clear from recent news reports that President Obama and Speaker John Boehner (R-Ohio) would like to strike a deal on a grand bargain. An increasing number of members are also acknowledging the reality that the status-quo is unacceptable and unsustainable. Hopefully, we will reach the tipping point where enough politicians in Washington will put the good of the country before the next presidential election.

More organizations have joined the cause.

CAI has been far from alone in its efforts.  The Concord Coalition and the Committee for a Responsible Federal Budget have pushed for fiscal responsibility for a number of years, and now they are joined by newer organizations like Fix the Debt, the Peter G. Peterson Foundation, and The Institute for Truth in Accounting.  The group No Labels is pushing for a new politics of bipartisan problem-solving, and the Government Transformation Initiative is a coalition of corporations, non-profits and others dedicated to changing the way government does business. There is even a Millennial-led organization, The Can Kicks Back, which is mobilizing young people to fight for their fiscal future. The grassroots efforts of these and other organizations, coupled with the pressures they’ll bring to bear in Washington, will augur well for our future.

Clearly the hole we have dug ourselves is deep, and getting deeper, and our political system is badly broken. But I am hopeful about our ultimate prospects for success. We the People have awakened, and Washington is slowly waking up, too.  If we act boldly and responsibly, our best days will surely lie ahead. 

Walker is a former U.S. Comptroller General and CEO of the Comeback America Initiative.

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