Public Accountability Initiative- Fix the Debt – a powerful, corporate-backed lobbying group advocating debt reduction with a $60 million budget – has failed to embrace defense spending cuts as a viable deficit reduction option, despite the fact that defense spending makes up over half of discretionary spending.
The group’s “core principles” focus on Social Security, Medicare, and Medicaid reforms and “pro-growth” tax reform, and fail to even mention defense spending. Elsewhere on its website, Fix the Debt identifies the sequester’s automatic defense spending decrease not as a potential contributor to deficit reduction, but rather as cause for concern.
Fix the Debt leaders have ties to 43 companies with defense contracts totaling $43.4 billion in 2012. Fix the Debt leaders profiting from defense spending include the group’s co-chairs, steering committee members, and CEO council members; they have ties to these companies as board members, executives and CEOs, and lobbyists.