Speak Out on Out-of-Control Spending

Kathryn Nix / June 23, 2010

This upcoming Saturday, AmericaSpeaks, a non-partisan organization devoted to re-energizing democracy in the U.S., will hold a nationwide discussion on the federal budget and runaway spending in Washington.  Americans with all viewpoints are encouraged to make their voices heard regarding this crucial aspect of America’s future.

With the president’s National Commission on Fiscal Responsibility and Reform in the throes of its own discussion on how best to tackle growing deficits, this opportunity could not come at a better time.  To contribute effectively, citizens must understand the following:

• What’s the problem? The federal government’s fiscally irresponsible behavior has put the United States on a collision course with disaster of Greek proportions.  This year alone, the federal deficit will reach $1.5 trillion.  By 2020, continued trillion-plus deficits are expected to reach 8.3 percent of gross domestic product (GDP)—compared to the historical average of 2.3 percent—doubling the national debt.  Federal Reserve Chairman Ben Bernanke warned recently that without serious action, the national debt could rise to 100 percent GDP by 2020.  These trends carry serious economic risks.
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