The chief executive of the U.S. Chamber of Commerce on Thursday said the “exploding national debt” is the greatest threat to the U.S. economy.
U.S. Chamber chief Tom Donohue called for Washington to reach a broad deal to rein in deficits in the coming months, while warning that entitlement spending was unsustainable.
“As a nation and a people, we must finally face up to the single biggest threat to our economic future — and that is our exploding national debt, driven by runaway deficit spending, changing demographics and unsustainable entitlements,” Donohue said. “Congress and the administration must focus their attention on this critical priority. Economic growth cannot solve all of our problems, but without growth, we will not be able to solve any of them.”