With the presidential election less than two months away, The Concord Coalition is urging Hillary Clinton and Donald Trump to detail their proposals to put the federal government’s borrowing, spending and tax policies on a more sustainable course.
“Non-partisan experts agree that our current path is not sustainable,” Concord said in an open letter to the candidates Friday. “Projections by the Congressional Budget Office (CBO) make it very clear that an aging population and rising health care costs are putting increasing pressure on the federal budget, threatening to squeeze out other national priorities.”
The letter highlights three key issues: the federal debt, Social Security and Medicare.
“Debt held by the public now stands at 77 percent of the economy (GDP), roughly twice the average over the past 50 years,” Concord tells the presidential candidates. “It is projected to rise to 86 percent by 2026 and 141 percent by 2046. Do you see this as a problem? If so, what do you intend to do about it?”
The letter asks similar questions about the Social Security and Medicare trust funds, which are projected to eventually run dry and are already putting substantial pressure on the rest of the federal budget.