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The “Unsustainable” Growth in National Debt–A Call for Action!
Erskine Bowles, former White House Chief of Staff and author of the Simpson-Bowles proposal to address the federal deficits and escalating national debt, issued a cautionary statement about the future of America’s debt level, noting that if left unchecked, “by 2027 we will be spending 99 percent of every dollar of revenue the federal government takes in on just this mandatory spending and interest.” His statement, as do so many others, calls for the political process to make some hard decisions to ward off “the most predictable economic crisis in history.” Read the statement, posted at www.nwaonline.com here…