The Government Accountability Office (GAO) recently stated in a report that the federal debt is “unsustainable” and “caused by a structural imbalance between revenue and spending.”

Federal debt held by the public increased to 77 percent of gross domestic product (GDP). If something is not done to drastically stabilize our debt and deficit, that ratio is projected to increase to a new record over the next 20 years. For perspective, the highest our debt has been compared to economic output was 106 percent in the 1940. At that point America was preparing for World War II, however since that time rampant waste and spending has taken over in such a way that GAO calculates the debt will reach that same high by 2032.

GAO suggests that the President and Congress must “consider policy changes to the entire range of federal activities and spending – entitlement programs, other mandatory spending, discretionary spending, and revenue.”

This GAO report goes on to state that it is “essential” to stabilize the debt in preparation for “future contingencies such as war or natural disasters.” These suggestions are not about party platforms and personal opinions; they are about the future of a nation that is frankly in crisis. Despite being the richest nation on earth, our government has driven us to a level of debt and deficit that is killing the opportunity to prosper. Strain has been put on the backs of those who will inherit this country, and the future has been compromised for the sake of politics and stubborn behavior.

Our skyrocketing debt is not only a threat to our economic stability – it’s a threat to our national security. To put our country on a path to fiscal health, the new Congress and incoming Administration must prioritize getting the debt under control and eliminating wasteful spending.

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