A nonpartisan group focused on fiscal responsibility is criticizing the presidential candidates for neglecting to address the rapidly growing national debt. The Committee for a Responsible Federal Budget points to alarming borrowing figures and warns that inaction could lead to a fiscal crisis.
A nonpartisan fiscal responsibility group is calling on the presidential candidates to confront the skyrocketing national debt following a government report showing the U.S."We’re still a month away from the end of this fiscal year, but based on today’s numbers from the Treasury, we know this year will go down as a fiscal flop. August saw a massive $380 billion in borrowing, and we’ve seen $6 billion borrowed per day this fiscal year.
Addressing the national debt isn't exactly a popular issue to bring up during a campaign because it would almost certainly require raising taxes or trimming benefits. The “And yet, neither candidate has put forward a plan to actually reduce our deficit," said Marc Goldwein, the committee's senior vice president. "In fact, under either candidate’s agenda, the debt would keep rising unsustainably faster than the economy. That would push up interest rates, it would worsen inflationary pressures, it would slow income growth and eventually, could lead us to some kind of fiscal crisis.
National Debt Presidential Candidates Fiscal Responsibility Government Borrowing Deficit
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