During and after this week's presidential debate, we must look beyond rhetoric and personality to the core issues shaping America's future. The most pressing is the unsustainable growth of government spending and ballooning national debt, which promises to rob Americans of wealth and living standards in the coming decades. Make no mistake, it's a genuine crisis demanding immediate attention. Dealing with it responsibly should be the litmus test for presidential leadership.
A recent Congressional Budget Office (CBO) report paints a dire picture. Projected deficits have climbed alarmingly high, far exceeding previous estimates. The federal budget deficit is now projected to reach $1.9 trillion in 2024, about equal to a staggering 6.7 percent of annual gross domestic product (GDP). More troubling still is the exponential growth in government spending compared to projections from just four years ago.
