America's economic future is threatened by a fiscal and budget crisis unprecedented in our nation's history. The trajectory of our national debt is unsustainable and threatens America's economic competitiveness, job growth, standard of living, global standing and influence.
AGA has worked to build a coalition of business associations who are calling for the Joint Select Committee on Deficit Reduction, known as the Super Committee, to go beyond the debt reduction target in their legislative mandate in order to stabilize the federal debt at a reasonable level and implement a plan to ultimately reduce the debt.
Big problems demand big solutions. The country needs a solution that is substantial enough to stabilize and begin reducing the debt as a percentage of GDP.
Bold action is needed in order to reassure the financial markets, restore public confidence, and create the foundation for long-term economic growth and prosperity. This will require addressing spending and revenues, entitlement and tax reform, and investments in infrastructure, education and R&D.
AGA Priorities: LIHEAP
AGA's support for bold action by Congress to reduce and eventually balance the federal budget is strong, and so is our commitment to ensuring America's most vulnerable that they will be able to heat their homes during the cold winter months and cool their homes during the summer heat. Shelter is a basic human need that our member companies see first-hand during the harshest months of the year when low-income families struggle to pay their monthly heating and cooling bills.
As we urge members of the Super Committee to take bold action to address revenues and spending, we also see an urgent need to prioritize LIHEAP funding. Our logic is simple: Continued cuts to LIHEAP in the current economic climate, with so many at risk, can result in fatalities. Yes, Congress needs to balance the books, but in making its budget choices it should never forget that there are lives in the balance as well.