In advance of contests in several key primary and caucus states today, The Concord Coalition recently reminded all presidential candidates that the rising national debt will affect the feasibility of their policy proposals
“The debt is your running mate,” Concord’s co-chairs said. “It will be there when this year’s winning candidate takes the Oath of Office. Your campaign promises need to reflect that reality. So far, they don’t.”
In advance of contests in several key primary and caucus states today, The Concord Coalition recently reminded all presidential candidates that the rising national debt will affect the feasibility of their policy proposals
“The debt is your running mate,” Concord’s co-chairs said. “It will be there when this year’s winning candidate takes the Oath of Office. Your campaign promises need to reflect that reality. So far, they don’t.”
Among the troubling fiscal projections they cited: Under current law, the deficit will begin rising this year and will reach $1 trillion (4.4 percent of GDP) by 2022.
The statement Friday was signed by Concord’s four co-chairs: Bob Kerrey and Jack Danforth, former U.S. senators, and John Tanner and Mike Castle, former U.S. House members.
“Whoever is elected president in 2016 will face a deep fiscal hole,” they said. “Failure by the new president and the next Congress to take quick and effective action on this fundamental problem could hurt the economy, lower American living standards, strangle investments on national priorities like infrastructure and medical research, leave critical entitlement programs on unsustainable paths, and put our position of global leadership at risk.”
