Young Americans have the most to lose if politicians continue to kick the can down the road by delaying action to address the drivers of our growing national debt. Continued inaction will replace our American Dream with a future of more debt, fewer jobs, higher taxes and a lower standard of living.
Help us kick back at Washington by asking your elected leaders to support the bipartisan INFORM Act (S.1351 / H.R. 2967), which would show how the federal budget will impact young people and future generations.
Like millions of other young people, I am a member of a generation that faces an unemployment rate twice the national average and increasing levels of personal and student debt. Especially in the wake of the economic adversity and uncertainty created by the Great Recession, young people deserve to know how today’s federal budget will affect us in the future.
As a supporter of The Can Kicks Back campaign, I urge you to support the Intergenerational Financial Obligations Reform (INFORM) Act (S.1351 / H.R. 2967).
The bipartisan INFORM Act would require that the Congressional Budget Office (CBO), Government Accountability Office (GAO), and Office of Management and Budget (OMB) to incorporate fiscal gap and generational accounting analyses into their annual reports and assessments of proposed legislation.
These proven analyses would reveal the full size and future consequences of our country’s budget imbalance by projecting (i) the gap between government spending and revenue beyond the traditional 10-year window, (ii) the spending cuts, revenue increases and economic growth needed to close this gap, and (ii) the net taxes (difference between lifetime taxes paid and benefits received) by age cohort, assuming the gap is left to future generations to close.
The INFORM Act is not about prescribing solutions; it’s about disclosing information that can be critical in guiding policy that is both fiscally sustainable and generationally equitable. To date, over 300 leading economists and former government officials have endorsed the legislation, including twelve Nobel laureates, former heads of the OMB and GAO, and former chairmen of the Senate Budget Committee from both political parties.
Please join them in taking a stand in support of the INFORM Act. It is time for Washington to face the facts, not keep kicking the can. More information is available at www.TheCanKicksBack.org/informact.
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