The NYT has a terrific take-down on the front page today* of that “Fix the Debt” group. They’re not high-minded at all, just a front for high-value tax benefits and defense contracts.
It’s a bunch of lobbyists trying to protect stuff like the “carried interest” loophole for private equity, tax breaks for multinationals, military spending, etc. They want to fix the debt on the backs of others while keeping their goodies.
For example, their core principles argue that we should cut entitlements dramatically, but don’t say a word about cutting even a penny from the defense budget.
The story links “Fix the Debt” leaders to specific companies: Sam Nunn to General Electric; Erskine Bowles to Morgan Stanley; Judd Gregg to Goldman Sachs, Honeywell, and International Exchange.
The article is sickening, but a must read. They pretend to be about patriotism, but really it’s all about their perks.
* “Public Goals, Private Interests in Debt Campaign,” Nicholas Confessore