Listen to today’s press call here.
Washington, D.C. — The August 2 deadline to raise the debt ceiling is fast approaching, with a recent warning by Treasury Secretary Timothy Geithner that failure to raise the debt limit would stop, limit, or delay government payments, including the disbursement of military pay. As Admiral Mike Mullen, Chairman of the Joint Chiefs of Staff, has pointed out, many military families are already "living paycheck to paycheck.” Seniors relying on Social Security and Medicare payments will also be impacted by the interruption of payments and the already fragile U.S. economy is expected to experience an estimated 2.3 percent drop in GDP if a debt deal isn’t reached.
Addressing our long-term deficit is both necessary and feasible and defense spending reductions should be part of that effort, as outlined in the report “A Return to Responsibility” to be released by the Center for American Progress. In this report, Dr. Lawrence Korb, CAP Senior Fellow and former assistant secretary of defense, and CAP researchers Laura Conley and Alex Rothman find $400 billion may be saved through 2015 through defense budget cuts, while preserving our military readiness.
Please join CAP Senior Fellow Dr. Lawrence Korb and CAP Vice President Michael Ettlinger for a discussion on the debt limit fight, protecting troop pay, and enacting sensible defense cuts that address the deficit without affecting the integrity of our military.
Press call to discuss the debt ceiling debate and areas in the defense budget that could be cut to address the deficit while preserving our vital military programs.
- Dr. Lawrence Korb, Senior Fellow, Center for American Progress; former Assistant Secretary of Defense
- Michael Ettlinger, Vice President for Economic Policy, Center for American Progress
Thursday, July 14, 2011, 10:00 a.m. EDT
Call info: 877.210.8943
Conference ID: 83352008
Please contact Christina DiPasquale at firstname.lastname@example.org or 202.481.8181.
**Please note, this call will be recorded. By participating in the call, you consent to be recorded.**