Charleston, SC – Former South Carolina Governor Mark Sanford announces the formation of Americans for Debt and Deficit Reduction, a non-partisan not-for-profit aimed at educating Americans on the dangers of our country’s financial path.
“Our present financial course is unsustainable” said Sanford. “Never have we seen this level of debt in peacetime and it will have grave consequences for each one of us if left unchecked. History shows that soaring national debt, deficits, and government spending are hardly a recipe for national prosperity, and more people need to be informed on this.”
This year alone, our budget deficit is projected to hit $3.7 trillion according to the Congressional Budget Office. America’s debt levels, when measured against the size of our economy, will soon amass levels not seen since World War II and The Great Depression. The current Coronavirus pandemic amplifies these trends, and this makes it that much more important that people have a firm understanding of the impact of governmental debt, deficits and spending.
Education, and action, are key to solving what confronts us, and it’s our hope that Americans for Debt and Deficit Reduction plays a constructive role in advancing people’s understanding and appreciation for what’s mathematically before us.