WASHINGTON, Dec. 7, 2022 /PRNewswire/ — The Concord Coalition today announced that the 2022 Economic Patriot Awards honorees are United States Senators Mitt Romney (R-UT) and Joe Manchin (D-WV). The awards recognize the Senators’ efforts to advance responsible federal budget policy as exemplified by their sponsorship of the bipartisan TRUST Act, which seeks to put our nation’s major trust funds on a sound fiscal path and improve the long-term budget outlook.
“Senators Romney and Manchin are very deserving economic patriots, because they are willing to risk backlash from their own parties in order to deal with some of the major fiscal challenges we face as a country,” said Robert Bixby, Executive Director of The Concord Coalition.
“Our honorees,” Bixby added, “share several important qualities: political courage, an understanding of budgetary trade-offs, a thoughtful focus on economic growth, and a determination to protect the interests of young people and the next generation. We hope that other elected officials around the country will follow their example.”
The latest estimates from the trustees of the Social Security and Medicare trust funds show that the Medicare Hospital Insurance trust fund will be insolvent by 2028 and the combined Social Security trust funds will be insolvent by 2035. Insolvency would bring immediate and deep cuts in retiree, disability, and health care benefits to millions of seniors and disabled Americans who depend on them every day. Under the legislation sponsored by Senators Romney and Manchin, special Congressional committees could propose legislation that would address long-term solvency and in so doing address some of the major drivers behind our growing national debt.
In accepting the awards, Senator Romney said: “It’s an honor to receive The Concord Coalition Economic Patriot Award, especially alongside my good friend Senator Joe Manchin. I am grateful for the work you do to educate the public on the real fiscal crisis we’re facing in our country.”
Senator Manchin said: “The Concord Coalition is the leading nonpartisan voice for fiscal responsibility, which has always been very important to me. As a country, we are facing record inflation, increasing energy costs, and a massive federal debt. The work of The Concord Coalition is more critical than ever, and this year the Coalition celebrates 30 years of fighting for a responsible fiscal future. For the sake of the country we all love, we must commit to solving the serious economic problems facing our nation in a bipartisan, lasting way.”
Since 1994, the economic patriot award has honored prominent Americans who have exemplified the commitment to fiscal responsibility that animates the spirit of The Concord Coalition.
The Concord Coalition is a nonpartisan, grassroots organization dedicated to fiscal responsibility. Since 1992, Concord has worked to educate the public about the causes and consequences of the federal deficit and debt, and to develop realistic solutions for sustainable budgets. For more fiscal news and analysis, visit concordcoalition.org and follow us on Facebook @ConcordCoalition and on Twitter: @ConcordC
SOURCE The Concord Coalition