Association coalition implores Obama, Congress to address fiscal cliff
More than 200 organizations signed onto a multi-industry coalition letter calling on Congress and President Obama to begin a process to restructure Medicare, Medicaid and Social Security, to put the programs on a "sustainable financial path."
The coalition believes a primary reason for the growth of debt is demographics. The baby boomer wave of 77 million Americans entering our entitlement programs has started. Also, the coalition says if sensible reforms aren't made, the programs will go bankrupt "and so will the nation."
U.S. Chamber EVP Bruce Josten said, “Demographics are destiny. No one can dispute that our nation’s entitlement programs are unsustainable, and it is mathematically impossible to fix our spending problem without serious entitlement reform. We urge the President and Congress to work together to address the fiscal cliff, and achieve a Big Deal. We are one big deal away from putting the U.S. back on a path to growth and fiscal balance.”
Among the associations that signed the letter are American Council of Engineering Companies, American Forest & Paper Association, American Gas Association, Associated Builders & Contractors, Association Forum of Chicagoland, California Manufacturers & Technology Association, Edison Electrical Institute, International Franchise Association, National Association of Manufacturers, National Beer Wholesalers Association, National Restaurant Association, National Retail Federation, Snack Food Association and Society of American Florists, United States Telecom Association. For the complete letter and list of signers, go to www.uschamber.com.
