Following the Congressional Budget Office’s (CBO’s) release of its September Monthly Budget Review, with a preliminary fiscal year 2026 estimated deficit of $2 trillion, Concord Action Executive Director Carolyn Bourdeaux issued the following statement:
“Washington just closed the books on another year of staggering borrowing. We finished the fiscal year with debt held by the public as large as our entire economy and net interest on the debt set a record at $1.1 trillion, consuming over 20% percent of federal tax dollars. Without decisive and prompt action, the problem is only going to get worse. If Congress thinks the American people don’t know or care about these mind-blowing annual deficits, rising interest rates, Social Security’s looming insolvency or the $40 trillion national debt, they’re sorely mistaken.
“Just since last year, Concord Action has grown by over 200,000 citizen activists, who have sent more than half a million letters to Congress urging immediate action on these vital fiscal issues. At Concord, we have been traveling the country over the past months. We have talked to Chambers of Commerce, college students and faculty, retirees, Kiwanis, Rotarys, state and federal employees, and even the Uber drivers who took us to the events. We can assure policymakers that a broad swath of the electorate is very aware of the problem and is very concerned about the deteriorating fiscal position of this nation.
“We strongly urge Congress to take up the Fiscal Commission Act in the lame-duck session after the election to get this process moving and take the first step towards fiscal discipline.
“We stand ready to work with members of both parties to address these fiscal challenges, but we won’t idly stand by while Washington continues to mindlessly march our nation toward a fiscal cliff.”
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