While the economic outlook has shown improvement over the last several years moving away from the Great Recession, federal spending remains substantially higher than revenue, much to the displeasure of business owners and conservative politicos alike.
“We’ve partnered with the Campaign to Fix the Debt because we recognize that business cannot grow in a climate of economic uncertainty,” said Justin Nelson, NGLCC president. “We don’t have to be partisan, but business leaders do have to be political. Businesses need certainty and predictability to stay on a steady growth trajectory and continue to drive this economy and create jobs.”
Fix the Debt aims to reduce the country’s debt by some $4 trillion by cutting domestic and military spending, reforming the tax code and curbing health and social security costs. The country’s debt, they say, continues to hamper economic growth and sustainability.
Maya MacGuineas, head of Fix the Debt, welcomed the NGLCC into the debate in a statement made through a media release this morning.
“The Campaign is pleased to stand with the National Gay and Lesbian Chamber of Commerce to call on Washington to temporarily put aside partisan politics and work together to truly stabilize and reduce the federal debt. The window of opportunity is closing. Right now lawmakers have a chance to work past our differences for the sake of our economy, and the economy of tomorrow,” said MacGuineas.
If recent history is any indicator, the upcoming debt ceiling debate in Congress could have major implications on the country’s financial stability, something from which LGBT businesses are not immune.