Nearly 30 years ago, in my very first week on the job at The Concord Coalition, I stood in front of the National Debt Clock as it ticked past $4.8 trillion. That moment — captured on the front page of the Athens Daily News in my hometown — marked the beginning of my own “midnight ride.”
Unlike Paul Revere, I haven’t had to outrun redcoats or dodge capture by British patrols. I haven’t lost my horse, though the journey has had its share of uphill climbs. My warning wasn’t about an advancing army, but something just as threatening to our country’s future: an advancing wave of red ink.
When that newspaper photo was taken, there was reason for optimism. Just a few years into my tenure, the federal government actually balanced its books for four straight years. It felt like we had turned a corner. But after the turn of the century, the debt began climbing again. And like former Senator Sam Nunn, who co-chaired The Concord Coalition predicted, we risked turning a national bonanza into a bust.
Over the years, commissions like Rivlin-Domenici and Simpson-Bowles have laid out practical, bipartisan solutions. But time and again, Congress and the White House failed to act. Today, the debt has surged past $36 trillion, and as the number keeps ticking upward It’s a sobering reminder that the threat I started warning about in 1995 hasn’t gone away. In fact, it’s grown larger and more dangerous.
Thirty years into this journey however, I remain hopeful — because I know what engaged citizens can do. I’ve seen it in town halls that The Concord Coalition facilitates, the classrooms where I often teach across the country, and in the work of our Fiscal Lookouts. History tells us Americans rise to meet the moment — and with enough resolve, we’ll do it again.
Continue Reading
