1. The US national debt has grown tremendously and now approaches $20 trillion. No significant measures are currently in place to slow its rising trajectory.
2. Addressing the debt will require sacrifices from the American people in the form of either higher taxes or reductions in government programs and benefits.
3. The problem has grown rapidly in recent decades; in the 1990s Congress operated on a pay-as-you-go system but spending has outpaced revenue since. Urgent action is now needed to get the debt under control before it becomes an unmanageable crisis.