Rep. Tom Cole (R-Okla.) says the country’s ability to react to global threats – such as terrorist groups in the Middle East or the spread of Ebola in West Africa – is “severely hamstrung” by its more than $17.8 trillion debt.
“The state of our nation’s economy, especially the amount of debt we have and the rate at which it is accumulating, is quite possibly the issue that should concern our leaders, lawmakers and citizens most,” Cole wrote in a weekly column on his official website. “While it is an issue that will require tough calls like further reducing spending on sometimes popular government initiatives and reforming long-established entitlement programs, these are decisions that must be made sooner rather than later.”
Cole noted bipartisan compromises such as the 2011 debt ceiling deal and the 2013 fiscal cliff agreement have helped, but much more needs to be done.
“While some events in other countries are out of our control, it is critical that we effectively manage what we can control in our own nation, so we’re adequately prepared both financially and militarily when crisis comes,” Cole wrote. “The federal budget outlook is something we can and must change, but it requires bipartisan cooperation to do so.”