SOTU Analysis: Responsibly reducing our deficit
In this series of blog posts, Senator Coons’ legislative staff shares their analysis of the President’s State of the Union address with Delawareans.
In last night’s State of the Union address, President Obama underlined the importance of responsible deficit reduction. He reminded Americans that “over the last few years, both parties have worked together to reduce the deficit by more than $2.5 trillion – mostly through spending cuts, but also by raising tax rates on the wealthiest one percent of Americans. As a result, we are more than halfway towards the goal of $4 trillion in deficit reduction that economists say we need to stabilize our finances.” He said is now time for Congress to “finish the job” and end the cycle of “drifting from one manufactured crisis to the next.”
Senator Coons, a member of the Senate Budget Committee, believes that our national debt and deficit are dangerous and unsustainable.
Democrats, Republicans and independent experts all agree that excessive debt hurts our competitiveness and crowds out critical investments in our country's future, in areas like education, infrastructure, research and development. That’s why Chris believes it is essential for members of both parties to come together and support balanced, responsible deficit reduction to get our nation’s finances back in order.