Sanford forms nonprofit

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From staff reports

Former South Carolina Governor and Lowcountry native Mark Sanford announced the formation of Americans for Debt and Deficit Reduction, a non-partisan nonprofit aimed at educating Americans on the dangers of our country’s financial path.

“Our present financial course is unstainable” Sanford said in a release. “Never have we seen this level of debt in peacetime, and it will have grave consequences for each one of us if left unchecked. History shows that soaring national debt, deficits, and government spending are hardly a recipe for national prosperity, and more people need to be informed on this.”

This year alone, the U.S. budget deficit is projected to hit $3.7 trillion according to the Congressional Budget Office. America’s debt levels, when measured against the size of the economy, will soon reach levels not seen since World War II and The Great Depression.

The current Coronavirus pandemic amplifies these trends, and this makes it that much more important that people have a firm understanding of the impact of governmental debt, deficits and spending, the group argues.

According to AFDDR, education and action are key to solving what confronts the nation, and it’s the organization’s hope that ADDR plays a constructive role in advancing people’s understanding and appreciation for what’s mathematically ahead.

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