Committee for Economic Development

CED has long viewed US fiscal responsibility as crucial to economic growth and business operations. Our national debt continues to grow unchecked, now exceeding $38 trillion. The cost of servicing this debt, now more than the US spends on defense, cripples our ability to adapt government spending to current needs. A national debt-to-GDP ratio of 100%, which the Congressional Budget Office estimates to reach 120% by 2036 and 175% by 2056, is already unstainable and will inevitably crush any future ambitions we hold for our nation's potential.

CED believes it is essential for US economic growth and national security that the Administration and Congress take measures to halt and eventually reverse the growth of the national debt to a more sustainable 70% of GDP. This can only be achieved through policies that promote productivity and through difficult choices in budgeting, including tax reforms and expense reductions. Combined with rising costs to service the national debt and the impending insolvency of the Social Security and Medicare Trust Funds over the next seven years, the US faces a strongly negative fiscal outlook that will only continue to worsen absent immediate action from Federal policymakers.

To support lawmakers and the public in facing these challenges, CED serves as a resource for the business perspective on these important fiscal policy issues. CED regularly releases Solutions Briefs, Explainers, Policy Backgrounders and Alerts, and other reports and toolkits that provide important context and recommendations to promote fiscal responsibility. A comprehensive overview of CED's fiscal responsibility resources can be found here.