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Posts tagged: debt

Crapo: $16 trillion debt mark a ‘wake-up call,’ ‘spending not the only issue’

When the U.S. Treasury announced yesterday that the nation's gross debt has topped $16 trillion, Idaho Sen. Mike Crapo called the news a “wake-up call.” Crapo, a member of the Senate's bipartisan “Gang of Six” that's been working on a debt-reduction plan to include spending cuts and caps, tax reform and entitlement reform, said that's still the best way to reduce the national debt.

“Many in Congress and on the various debt commissions agree spending is the largest part of equation when it comes to reducing our federal debt,” Crapo said in a statement late yesterday. “We can use this $16 trillion debt threshold as a rallying point. Spending is not the only issue. A bipartisan agreement to reform our tax code to make it simpler, fairer and more competitive is within reach if we in Congress can continue to show the American public we will work together on a solution. One of the best ways to spur those efforts is for the American public to call us, write us; let us know they want a bipartisan solution to slow spending and speed efforts on tax reform and to keep our entitlement programs solvent for retirees both now and in the future.”

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Betsy Z. Russell covers Idaho news from The Spokesman-Review's bureau in Boise.

Named best state-based political blog in Idaho for 2013 by The Fix

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