(Raleigh, NC) – The Concord Coalition brought its Debt Clock Tour and fiscal policy experts to a news conference in Raleigh on Tuesday to call attention to the nation’s growing debt and the choices facing policymakers.
The U.S. national debt recently surpassed $40 trillion, a bleak milestone that is a warning that the probability of a debt crisis grows with every additional dollar borrowed. Concord’s Debt Clock Tour puts that number directly in front of communities across North Carolina as the organization works to educate Americans about the federal budget, Social Security and the consequences of continued debt growth.
“We’re trying to raise the alarm on why this is important to Americans of all walks of life,” said Phil Smith, National Field Director for the Concord Coalition, at a news conference in Raleigh. “Our future is in jeopardy, and Washington, unfortunately, is doing nothing about it right now.”
Smith joined David M. Walker, former Comptroller General of the United States; Andrew Taylor, professor at NC State’s School of Public and International Affairs; and Joe Penland, business leader and philanthropist, for Tuesday’s press conference.
Walker, who led the U.S. Government Accountability Office (GAO), urged policymakers to look beyond the headline number and confront the country’s broader long-term fiscal obligations.
“The $40 trillion number is the tip of the iceberg,” Walker said. “We must get our finances in order.”
Following the press conference, Concord continued its outreach at NC State University, where Smith, Walker, Penland, and Concord Coalition Executive Director Carolyn Bourdeaux met with Honors students to discuss Social Security, the federal debt and the fiscal choices facing their generation.
The Raleigh events form part of Concord’s month-long North Carolina Debt Clock Tour, which includes stops in communities and on college campuses across the state. Concord Coalition will continue the tour next week with a moderated panel at Duke University Sanford School of Public Policy and multiple events at UNC Chapel Hill.
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