Roll Call: Hamel: Party Platforms Should Address the Debt
Hamel: Party Platforms Should Address the Debt
As seen in Roll Call
By Gretchen Hamel
August 22, 2012
With the Democratic and Republican conventions around the corner, the political world is abuzz about who’s up in the polls, upcoming debates and attack ads on TV.
But while all this politicking makes good fodder for the pundits, a more serious conversation needs to take place about the burgeoning debt that is threatening the nation. The best way to get that conversation going is for both parties to include a commitment to reduce the national debt in their respective platforms.
At almost $16 trillion, the debt is larger than the entire size of the U.S. economy. As a consequence, most experts agree, job growth has been severely stunted.
Ed Lazear, former chairman of the Council of Economic Advisers, told Congress that as U.S. debt grows,investors grow uncertain of the federal government’s ability to repay its loans, prompting businesses to sit on the sidelines, instead of investing capital and creating jobs.
With unemployment stuck above 8 percent, our political leaders need to act now—before this crisis deepens. …
We at Public Notice recently wrote to both the Democratic and Republican conventions asking them to include the necessary policies to reduce America’s debt in their national platforms.
We addressed both parties because this is not a matter of partisan politics. The national debt is a problem about which the overwhelming majority of Americans— Democrats, Republicans, and independents—are concerned. In our most recent poll, respondents said that issues such as government spending (77 percent), job creation (86 percent) and the U.S. debt level (79 percent) are extremely orvery important for Washington to tackle.
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