09/02/16 Chase Hagaman, Concord Coalition

Posted by Bob Martin
 
“Federal fiscal issues are totally tedious and boring,” warned our speaker last Friday, and he was right. Chase Hagaman, the New England Regional Director for the Concord Coalition, joined us to talk about his organization, and its efforts to increase candidate and voter awareness about the fiscal issues confronting the U.S.
 
The Concord Coalition is a non-partisan organization that advocates for responsible fiscal policy. Founded in 1992 by U.S. Senator Warren Rudman, former Secretary of Commerce Peter Peterson, and U.S. Senator Paul Tsongas, the group prides itself on being a credible source of information and analysis on the federal budget. Currently, according to Hagaman, the group is urging voters and candidates to “look out for the nation’s fiscal future,” and calling on candidates for office to engage in meaningful discussions on ways to curb the growth of the federal budget. “Spending and revenue generation are out of synch,” said Hagaman. “Our total debt exceeds $19 trillion dollars and has the highest impact on economic growth and our standard of living.”
 
Hagaman pointed to the rapid increases in mandatory spending programs—26% in 1966 to 65% in 2026—as one of the root causes of the imbalance in federal spending. “Discretionary spending is declining,” he said. “But mandatory spending in Medicare, Medicaid, and Social Security continue to increase.” On top of that, he also pointed to increases in the cost of borrowing, with interest expense rising to over $1 trillion. “That’s wasted money,” he said. Part of the spending/revenue imbalance is created by the aging population, he pointed out, and said a key reform needed to help improve our fiscal situation related to changing these social security programs to fit the revenues available.
 
But, despite the fact that his organization is apolitical, the questions from the audience quickly zeroed in on why fiscal discussions are sometimes contentious, and sometimes boring: it depends on definitions. As Juliana L’Heureux pointed out in her question, the military expense budget may be seen by some as “discretionary,” but retired veterans may not agree that their pensions are “discretionary.” “The veteran’s wife would argue that they ‘paid into’ the system,” she said. “So getting the pension payment to pay for food isn’t discretionary.”
 
For those seeking more information about the Concord Coalition and its explanations of federal spending, or to learn more about the organization’s “Look Out” campaign, visit www.concordcoalition.org.

 
(Photo: President Laura Young, Chase Hagaman and member, Rusty Atwood.)