Dear Clients, Colleagues and Friends:
I just returned from the Schwab Impact Conference in Chicago. This annual conference of over 3,000 RIA attendees is known for its powerful speakers and thought provoking topics. This year’s conference continued that trend.
The most impactful and moving messages were delivered by former Secretary of Defense Robert Gates, as well as co-chairmen of the Simpson-Bowles National Commission on Fiscal Responsibility and Reform, Alan Simpson and Erskine Bowles
As you have seen post-election, the financial markets are very concerned about the fast approaching fiscal cliff. And they should be. If these provisions go into play, the impact on our country will be dire. We spend more money on interest for our debt than we spend on the Departments of Commerce, Education, Energy, Homeland Security, Interior, Justice and State combined. Politicians have been kicking the can to December 31, 2012. Unfortunately, the “can” cannot be kicked any further.
Both Robert Gates and Former Chairman of the Joint Chiefs of Staff Admiral Mike Mullen agree that our national debt is our biggest national security threat.
Together, we must face the challenges of tax and spending reform. This is not politics or ideology, it is simple math. We are at the tipping point where our fiscal health is not just endangering our future, it is endangering our present.
Regardless of your political affiliation, we must insist that politicians put the country first – not their political agenda. We have less than 40 days until the end of the year. Congress is only scheduled to be in session for 12 of them. Please add your voice to the growing chorus demanding a responsible solution.
Please visit www.fixthedebt.org to sign the petition or contact your representative directly.