Statement on the President’s Address to Congress

NEW YORK — Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation, commented today on the President’s address to a joint session of Congress:

“Tonight, President Trump outlined a range of policy priorities for the country, but an opportunity was missed to highlight the importance of addressing our national debt.

“America’s national debt is already at its highest level since 1950, and is projected to grow rapidly in coming years. On our current path, our debt is on pace to reach unprecedented and dangerous levels, slowing economic growth, hurting jobs and wages, and endangering our national security. Interest costs alone are projected to total more than $5 trillion over the next 10 years.

“There are many solutions available to put our economy and our country on a more sustainable path. As our leaders consider reforms in key areas such as healthcare and tax reform, we must enact policies that also improve our nation’s fiscal outlook. Looking ahead, the President and Congress have the opportunity to work together to stabilize our debt and provide a strong foundation for economic growth."