Perhaps the most important issue in America today about which we expect to hear little to nothing during campaigns for U.S. House, U.S. Senate and president this year is federal debt.
Today, the nation's debt stands at more than $23 trillion. By comparison, the debt was roughly $13.6 trillion 10 years ago; $5.7 trillion 20 years ago. In other words, our nation is moving in the wrong direction on red ink. In fact, the Congressional Budget Office forecasts deficits of more than $1 trillion each year for the next 10 years.
One need not be a financial genius to understand we can't go on like this forever.
Again today, we commend those lonely voices, like the Peterson Foundation and the Concord Coalition, committed to speaking stark truth about America's debt crisis. We encourage reasoned advocates for fiscal sanity in Washington, D.C., to continue fighting this good fight, frustrating as the work must be, because it's imperative to raise the profile of this crucial subject.