(Robert) Bixby directs the Concord Coalition, an organization dedicated to responsible financial behavior. He opened the discussion with a comprehensive PowerPoint illustrating the statistical facts of the current financial crisis.
Bixby’s primary focus is sustainability. The country’s current track, he contended, is not financially sustainable even if we do witness improvements in the short term. He emphasized the impact of three major components from the 2012 federal budget: “entitlement programs” such as Social Security, Medicare, and Medicaid; military and defense spending; and interest paying off the national debt.
Bixby confidently asserted that while the United States is currently paying $200 billion on interest alone, it has been projected to potentially rise as high as $800 – 900 billion in the future.