(Express Telegraph) — Former U.S. Rep. Carolyn Bourdeaux is urging Democrats and Republicans to confront the nation’s growing debt and budget deficits following Tuesday’s election, warning that fiscal policy must be part of any effort to address Americans’ concerns about affordability.
Bourdeaux, executive director of Concord Action, argues that federal borrowing and rising interest costs are contributing to the financial pressures facing American households.
“A credible affordability agenda must include a credible fiscal agenda,” Bourdeaux wrote in a post-election message.
She said Democrats, following their election victories, have a responsibility to translate campaign promises about affordability into policies that address federal spending, revenues and long-term obligations.
By the numbers: Bourdeaux cited a national debt exceeding $40 trillion, annual federal deficits of approximately $2 trillion and more than $1 trillion in federal interest payments during the last fiscal year. She noted that interest costs exceeded national defense spending, leaving fewer federal resources available for other priorities.
The Republican challenge: Bourdeaux urged Republicans to use the remaining two months of the congressional session to lay the groundwork for bipartisan fiscal reforms. She urged lawmakers to ensure legislation is fully funded and establish a fiscal commission focused on stabilizing federal finances and protecting Social Security’s solvency.
The bigger picture: Bourdeaux argued that rising federal borrowing can put upward pressure on interest rates, increasing financing costs for families and businesses. She called on elected officials from both parties to acknowledge the long-term consequences of persistent deficits.
The bottom line: Bourdeaux said fiscal responsibility should remain a priority regardless of which party controls Washington.
“Our obligation to the generations that follow us does not change with an election, and neither does our commitment to meeting it,” she wrote.
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