Chris Towner: It’s Time To Get Serious About The Federal Budget Deficit

Chris Towner is the policy director for the Committee for a Responsible Federal Budget. He recently wrote an opinion piece for the Carolina Journal, an excerpt of which is below.

With the elections over and a unified Republican White House and Congress about to take the reins of power, there’s an overriding issue that should be on every lawmaker’s radar. Unfortunately, while the recent campaigns were dominated by everything from military conflicts abroad to inflation at home, we heard very little about America’s worsening fiscal crisis.

I visited Charlotte recently to speak with civic leaders and the North Carolina Advisory Board on the National Debt on a topic that my nonpartisan organization, the Committee for a Responsible Federal Budget, believes should get far more attention: America’s perilous finances.

Our gross national debt (including the money the federal government owes itself) is $36 trillion and growing, with debt held by the public at $28 trillion. We borrow an additional $5 billion every day, and we sponged $1.8 trillion in the fiscal year that just ended.

Read the entire piece here.

Published works by members or staff of the Committee for a Responsible Federal Budget do not necessarily reflect the views of all members or staff of the Committee.