American voters are highly concerned about the rise in national debt as the 2020 presidential campaign gets underway, according to a survey released by the Peter G. Peterson Foundation on Tuesday.
About 72 percent of Americans say their concern about the national debt has increased over the past few years, and 84 percent want the president and Congress to spend more time addressing the issue, the survey showed. Meanwhile, half of Americans, including Democrats, independents and Republicans, say the president and Congress should spend “a lot more time” addressing the national debt, and “strongly agree” that the debt should be a top priority, according to the survey. “Voters believe that managing our national debt is a top priority that should play a central role in this year’s election discussion,” Michael A. Peterson, CEO of the Peterson Foundation, said in a statement.
“Our unsustainable fiscal outlook threatens our national priorities, economic opportunity, and quality of life for all Americans. This election season, voters deserve to hear a plan from those running for office that puts our nation on a stronger path that will help ensure a bright future for the next generation,” he said.
Since President Donald Trump took office in 2017, the U.S. national debt has risen from under 20 trillion U.S. dollars to over 23 trillion dollars. Federal Reserve Chair Jerome Powell earlier this month warned that the interest costs could become a bigger burden in the future with current debt to gross domestic product (GDP) rising quickly. “What it means is that 20 years from now… our children will be spending those tax dollars on servicing the debt rather than on the things that they really need,” Powell told lawmakers before the Senate Banking Committee.