Secretary of State Hillary Clinton spoke yesterday about the importance of taking action soon to ensure future fiscal sustainability, calling the mounting federal deficit a threat to our national security in two ways:
“It undermines our capacity to act in our own interest, and it does constrain us where constraint may be undesirable. And it also sends a message of weakness internationally. It is very troubling to me that we are losing the ability not only to chart our own destiny, but to have the leverage that comes from having this enormously effective economic engine that has powered American values and interests over so many years. So I don’t think we have a choice – it is a question of how we decide to deal with this debt and deficit…. There is no free lunch, and we cannot pretend that there is without doing grave harm to our country and our future generations.”
Secretary Clinton's statement reflects the growing number of our nation's leaders (listed here are the members of the Announcement Effect Club) who recognize that our current unsustainable fiscal path will have ripple effects beyond just our federal budget. Our skyrocketing national debt will impact not only America at home but also our global economic and political relationships -- making it more important than ever to enact a plan now that will outline how we will bring down future deficits, before it's too late.