Last week, the U.S. Treasury announced the gross national debt reached $35 trillion — that is more than $266,000 per U.S. taxpayer. For perspective, it would take 22 years to pay off this debt if every family in the country donated $1,000, per month. Worse, it is projected to double over the next 10 years. Now, with less than 100 days until America decides who will win the White House and both chambers of Congress, you would expect candidates to be discussing our historic national debt, and how to shrink it, at every stop on the campaign trail. Sadly, that’s far from the case. It’s a disgrace, especially given the opportunities the federal government will have in 2025 to either stem the bleeding or send us further into the red.
Election 2024: Fiscal issues will dominate the agenda in 2025. Trump-era tax cuts are set to expire and the debt ceiling will need to be raised. And the slow march to insolvency will continue for Social Security and Medicare. We ask for discussion and discourse from this year’s national candidates on how the important matter of our nation’s debt will be addressed.
