Committee for a Responsible Federal Budget

Maya MacGuineas: Trump and Biden must answer critical budget questions

Oct 22, 2020 | Budgets & Projections

Maya MacGuineas is president of the Committee for a Responsible Federal Budget and head of the Campaign to Fix the Debt. She recently wrote an opinion piece for the Washington Examiner, an excerpt of which is below:    

With the final of just two presidential debates fast approaching, President Trump and former Vice President Joe Biden are running out of opportunities to explain their vision for 2021 and beyond. While the COVID-19 crisis and other issues will be a focus, Trump and Biden should also present their long-term plans — specifically, how to manage our nation’s risky fiscal outlook. 

The national debt will hit a new record during the next presidential term. Meanwhile, four of the country’s major trust funds, including Social Security, are projected to be insolvent in the next 11 years. While addressing the pandemic remains the top priority and that will require more borrowing, whoever takes office in 2021 will need a plan to address these serious fiscal challenges once the economy is strong enough. 

Read the entire piece here

"My Views" are works published by members or staff of the Committee for a Responsible Federal Budget, but they do not necessarily reflect the views of all members or staff of the Committee.