Tanner Says Tough Choices Lie Ahead for U.S. Economy
MEMPHIS - There will be major consequences for the U. S. economy and Americans’ personal savings if Congress and President George W. Bush fail to reverse the trend of record deficits, Congressman John Tanner said Thursday in an address to the Economic Club of Memphis. Tanner, a member of the House Ways and Means Committee, released a comprehensive report, titled The Consequences of America’s Debt on Our Economic Future, which details the impact of the nation’s rapidly increasing $8.4 trillion debt and proposes solutions to balance the federal budget.
“It is clear that the nation’s current fiscal path is unsustainable and that tough choices will be necessary to address the growing imbalance,” Tanner writes in the introduction to his 20-page report. “Without a bipartisan, honest public debate on both spending and taxes, our government runs the risk of failing to meet the future needs of the American people.”
Tanner represents Tennessee’s 8th Congressional district in West and Middle Tennessee. He is a founding member of the Blue Dog Coalition, a group of 37 moderate to conservative House Democrats committed to fiscal discipline.
Congressman Tanner’s April 20 report is available online.
