National Debt

Blog Post

The Debt Limit is More Trouble Than It’s Worth

September 06, 2017
The original purpose of creating a statutory debt limit in 1917 was not to prevent the government from running up too much debt, but to remove the requirement that Congress authorize individual issuances of debt. The intent was to help ensure that sufficient and timely credit would be available to finance World War I. One hundred years later, things are very different. The main use of the debt limit now is to prevent the government from paying its bills on time, putting the nation’s creditworthiness at risk and threatening a global financial crisis.
Issue Brief

A Tale of Two Deadlines

Two deadlines converge by coincidence this year. They are not related to one another and the precise consequences of failing to deal with them in a timely manner are different. Missing either of the deadlines, however, has the potential to do harm to the nation’s fiscal situation and the economy. There is certainly no good reason for provoking a standoff on either.
In the News

A Q&A on Trump's tax plan. Brace yourself

August 23, 2017
New Jersey Star-Ledger
Fiscal Responsibility
National Debt
Tax Policy

If you are looking for straight talk on the country's fiscal crisis, the best place to find it is at bipartisan think-tanks, where experts are willing to face the daunting math, and challenge the p

Blog Post

Bipartisan Policy Changes Can Put the Debt on a Downward Trajectory

August 09, 2017
When The Concord Coalition was founded in 1992, the national debt was on a sharp upward trajectory. Yet just five years later, Democratic President Bill Clinton signed legislation passed by a Republican Congress that implemented the first balanced budget in decades. By the time Clinton left the White House, the Congressional Budget Office was projecting a 10-year surplus of over $5 trillion and there was even discussion about whether the national debt could be paid off entirely.