Our Republican Legacy Statement on U.S. Debt Surpassing 100% of GDP

The national debt of the United States has just exceeded 100% of gross domestic product (GDP) for the first time since World War II. Our debt trajectory is unsustainable at current levels and risks a further downgrade of our sovereign debt rating, an increase in the cost of financing of our debt, and runs the risk of triggering a broader fiscal and financial crisis.

“If we don’t address the metastasizing debt soon, today’s affordability crisis and the skyrocketing gas prices upending the midterms will look like chicken feed,” says Jack Danforth, Founder of Our Republican Legacy. “Addressing the debt won’t be easy, but it's why we need members of Congress to do their jobs."

Consistent with Our Republican Legacy’s principle and policy statement on fiscal responsibility, ORL calls again on the Trump Administration and Congress to agree to a binding framework to significantly reduce our national debt-to-GDP ratio. Reducing borrowing costs generates economic growth and allows the private sector to prosper.