A deficit of debt discussion
16 declared GOP candidates. Zero meaningful solutions to America’s $18 trillion debt.
by Tom Coburn
The 2016 presidential race is beginning in earnest with new candidates entering the crowded field weekly. The Republican Party boasts a host of compelling and well qualified aspirants, many of whom I have known and served with for years. They bring a wealth of experience and policy savvy to a nation sorely in need of a rebound following the many failures of the federal government during the Obama presidency.
Yet despite their numbers, none of them is addressing in a meaningful way the greatest threat to our republic: our gigantic and rapidly growing national debt. America’s cumulative borrowing is rapidly approaching $20 trillion, while the federal government’s unfunded liabilities (future expenditures minus future tax revenue) now exceed a whopping $127 trillion — better than $1.1 million per taxpayer.
That’s not merely unsustainable; it’s suicidal.