On its current path, the $18.1 trillion debt is projected to rise to nearly $27 trillion — and perhaps even more — by 2025.
“Rising interest payment on the debt, along with higher entitlement spending, more health care costs and an inefficient tax system, threaten to choke the budgets of most government programs,” write Fred Kocher and George Bruno in a recent op-ed in the Keene (N.H.) Sentinel.
Kocher, president of Kocher & Co., is a member of the New Hampshire Cabinet for First Budget, an initiative of The Concord Coalition and Fix the Debt to encourage presidential candidates to address America’s fiscal challenges. Bruno, a retired ambassador to Belize, serves as general counsel and director for USA Group International.
“The next president and the next Congress will have an economic and moral obligation to make the national debt a top priority,” they write. And New Hampshire residents “have an obligation to ask them, directly, what they would do to reduce the debt while still protecting the country’s economic health, security and world leadership.”
First Budget Website