Amid mounting concerns over federal spending, the deficit is once again at the forefront of Americans' priorities. Join Third Way as House Majority Leader Steny Hoyer delivers a major address on solving the nation's fiscal crisis.
Rep. Hoyer outlines a blueprint for bipartisan progress on the budget and outlines the steps Congress must take to tame the deficit.
Robert L. Bixby is Executive Director of The Concord Coalition, a nonpartisan, grassroots organization dedicated to fiscal responsibility.
Greenstein is the founder and President of the Center on Budget and Policy Priorities. He is considered an expert on the federal budget and a range of domestic policy issues, from anti-poverty programs and various aspects of tax policy to health reform and Social Security. He has written numerous reports, analyses, book chapters, op-ed pieces, and magazine articles on these issues.
Representative Steny Hoyer
Congressman Steny H. Hoyer represents Maryland's Fifth Congressional District, which includes Calvert, Charles and St. Mary's counties and portions of Prince George's and Anne Arundel counties. A resident of Mechanicsville serving his 14th term in Congress, Congressman Hoyer became the longest-serving Member of the U.S. House of Representatives from Maryland in history on June 4, 2007.
In November 2006, Congressman Hoyer was elected by his colleagues in the Democratic Caucus to serve as House Majority Leader in the 110th Congress. His election as Majority Leader - which is the second-highest position in the House - makes him the highest-ranking Member of Congress from Maryland in history.
Jim Kessler is the Vice President for Policy and a co-founder of Third Way. He works on issues across the policy spectrum. A longtime Capitol Hill veteran, he served as Legislative and Policy Director to Representative/Senator Charles Schumer. Mr. Kessler helped pass landmark legislation on crime, gun safety, and domestic violence. From 2001 to 2004 he served as Director of Policy and Research for Americans for Gun Safety.
He has appeared frequently as a political commentator on television, radio, on the web, and in newspapers - including 60 Minutes, Congressional Quarterly, National Journal, ABC News World News Tonight, The CBS Evening News, NPR's Morning Edition, and Marketplace Radio. Mr. Kessler earned his Master's degree in Public Policy from Harvard University's John F. Kennedy School of Government and his Bachelor's degree in Political Science.
David M. Walker
David Walker is President and CEO of the Peter G. Peterson Foundation. In this capacity he leads the Foundation's efforts to promote federal financial responsibility today in order to create more opportunity tomorrow.
Prior to assuming his position with the Foundation in March of 2008, Walker served as the seventh Comptroller General of the United States and head of the U.S. Government Accountability Office (GAO) for almost ten years. This was one of Walker's three presidential appointments each by different Presidents during his 15 years of total federal service. Walker also has over 20 years of private sector experience, including approximately 10 years as a Partner and Global Managing Director of Human Capital Services for Arthur Andersen LLP.
In addition to his leadership responsibilities at the Foundation, Walker serves on various boards and advisory groups, including as Chairman of the United Nations Independent Audit Advisory Committee, as a member of The Public Company Accounting Oversight Board's Advisory Committee, and as a member of the Trilateral Commission. Walker has authored three books. The most recent, Comeback America, shows how we can return to our founding principles of fiscal responsibility and stewardship for future generations. He is a frequent writer and commentator, and is a subject of the critically acclaimed documentary "I.O.U.S.A."
Total indebtedness of a government, especially as evidenced by securities issued to investors. The national debt grows whenever the government operates a budget deficitthat is, when government spending exceeds government revenues in a year. To finance its debt, the government can issue securities such as bonds or treasury bills. The level of national debt varies from country to country, from less than 10% of the gross domestic product (GDP) to more than double it. Public borrowing is thought to have an inflationary effect on the economy and thus is often used during recessions to stimulate consumption, investment, and employment. See alsodeficit financing; John Maynard Keynes.