Robert L. Bixby, executive director of the Concord Coalition, and Maya MacGuineas, president of the Committee for a Responsible Federal Budget and head of the Campaign to Fix the Debt, wrote a commentary (paywall) that appeared in the Nashua Telegraph this past weekend. It is reposted here.
The next president will face an array of pressing issues. One issue, however, transcends them all: the unsustainable projected growth of the federal debt. No candidate's vision of the future, regardless of party or ideology, will be credible if it rests on the premise of more and more government borrowing.
Because annual deficits have dropped in recent years as the economy recovered from the Great Recession, candidates and voters may be tempted to conclude that our fiscal problems are behind us. That would be a mistake.
Deficits are projected to begin rising again as the next president takes office. Over the coming decade, the debt is on track to grow by more than $7 trillion and continue rising ever higher after that.
So we need to hear far more from the candidates in both parties about how they would shift the federal budget onto a more responsible path - one that would strengthen our nation and protect our children and grandchildren from inheriting a massive burden of government debt.