The mounting national debt is one of the biggest challenges facing the United States. Its growth is outpacing that of the economy and, left unchecked, will reach dangerous levels -- 91% of GDP by 2025, 149% in 2040 and 415% in 2080. Debt at those levels will impact economic growth. Increased government borrowing will ultimately lead to higher interest rates, which will crowd out needed investments. The growth of wages and standard of living could also suffer.
The American electorate understands the seriousness of the problem and is demanding action. That is why deficits/debt consistently ranks as a top concern for voters.
Given all this, we believe that anyone seeking the Office of President of the United States should be required to provide a detailed plan for finding the $4-6 trillion over the next ten years that experts agree is necessary to begin to address the problem.
Therefore, we call on the Commission on Presidential Debates and the presidential campaigns to commit to dedicating one of this fall’s debates to a forum in which the candidates present and defend their plans and discuss what trade-offs they are willing to accept to achieve the necessary savings.