Citizen groups originally convened by The Concord Coalition have called on Congress and President Obama to produce “a bold, comprehensive plan to avoid an explosion of federal debt that could devastate the economy, weaken our national security and unfairly burden future generations.”

Entitled “The National Debt Is a Real Threat,” the statement says both spending cuts and tax revenue increases will be needed. It was developed by Concord’s Fiscal Advisory Councils around the country and sent to the White House and members of Congress last week.