FTD News:Our nation has experienced a historic fiscal milestone as gross national debt eclipsed the $20 trillion mark for the first time in history. The following is a statement from the Campaign to Fix the Debt’s Co-Chairs Judd Gregg and Edward Rendell:
President Trump spent much of the campaign warning about our $20 trillion debt; we have now officially hit that frightening milestone. The United States now holds more gross debt than at any time in history, and our debt held by the public is a larger share of the economy than at any time since just after World War II.
With deficits rising, interest costs growing, and major trust funds headed toward insolvency, it’s time for our leaders to build a plan. We should use this frightening $20 trillion milestone as a turning point when leaders put fixing the debt ahead of political priorities and work together to put our debt on a sustainable path, so we can grow the economy and improve the economic well-being of the American people.
