Maya MacGuineas: Three things Congress must do to curb our nation’s spiraling debt crisis
Maya MacGuineas is president of the Committee for a Responsible Federal Budget and head of the Campaign to Fix the Debt. She recently co-authored an opinion piece with Rep. Randy Feenstra (R-IA) for The Washington Times, an excerpt of which is below.
After two decades of uninterrupted borrowing, the national debt as a share of the economy is higher than at any time since World War II, a record that will be surpassed in just nine years. Debt is already 97% the size of the economy and will climb to a record 107% by 2031 and 185% by 2052. This assumes no new borrowing occurs and policies set to expire will sunset as scheduled. More borrowing and policy extensions could ultimately push the national debt up to more than twice the size of the economy within three decades. Such a high national debt poses numerous risks and threats that policymakers must start to take seriously.
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.