This week, our nation hit that incredibly troubling milestone. Our national debt stands at more than $22 trillion dollars. Broken down, that is $67,000 per American citizen.
This unprecedented level of debt and the growing deficit are being ignored by many in Washington. The president failed to even mention the debt or deficit in his State of the Union Address, and the previous Congress passed a massive tax cut for the wealthiest Americans that is expected to cost the country trillions of dollars. Congress must act by passing a bipartisan budget that reins in wasteful spending and gets our fiscal house in order.
As the co-chair of the House Blue Dog Coalition, I am particularly concerned about this growing crisis, and I have joined my colleagues to sound the alarms. We are set to pay more on interest on our debt than we are spending on the future of our children, infrastructure, and national security. You can read more about my concerns in this op-ed we wrote this week.
We have an obligation to address our ballooning debt and deficit. Our children and grandchildren are counting on us to leave our nation in a better place for them, but it is clear that the path we are on will only set them up for failure. We can, and must, do better.
Please take a moment to fill out the survey in this email to share your thoughts and subscribe to my e-newsletter.
Sincerely,
Tom O’Halleran
