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Investments / The Ticker

SIFMA CEO: Congress needs to tackle America’s debt crisis

Summer closes, Congress reconvenes to fight over the budget

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The summer sun is setting and the president and Congress are stepping back into Washington D.C. to conquer America’s budget and debt issues. The Hill has more, citing Judd Gregg, CEO of the Securities Industry and Financial Markets Association. Gregg said:

With both the end of the fiscal year occurring and the debt ceiling needing reauthorization, it is difficult to comprehend how the issues that underlie and drive both of these events would not be taken up with fervor and a real intent to get something done.

At the center of these issues is of course the fact that we continue on the path of piling up an unfathomable amount of spending that is not paid for. The expenditure is made possible only through borrowing and passing the bills on down the line.

Source: The Hill
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