Data from the Treasury Department shows the deficit increasing by $120 billion in July alone. Most of the spending is going toward health services and the military. Congress and the Executive branch just agreed to remove the debt ceiling and further increase spending. The year over year comparison for the month shows federal spending up by 23%. Again that’s compared to the same month in 2018.
This makes the year-to-date total deficit $867 billion. That’s compared to $684 billion at the same time last year . The deficit is simply at an unacceptable level. Our debt is way too high. Former Governor Mark Sanford of South Carolina is calling on Republicans based on the financial situation. He believes they must start taking the national debt seriously. His position is the time has come to confront this issue.
Sanford announced nearly a month ago he is considering a presidential bid. He wants to run based on the issue of government spending. Yesterday, Sanford released another campaign-like video, discussing the growing national debt. In it he calls on Republicans to start taking the national debt. He wants to seriously curb spending before things get out of hand. The link to the 2 minute video is at: https://www.youtube.com/watch?v=3Zk6T8J1bDs&feature=youtu.be
Here’s a quote from the video, “There’s a big storm coming. I say this because our country is in the most precarious financial position that we’ve been at since our founding and the Civil War. Not dealing with it could crush our economy, it could wipe out what we’ve saved, and it could even destroy our republic. We’ve never had so much debt. We’ve never had this much spending. We’ve never had this much of our debt owned by foreign governments — and this is just the beginning of a long, long list of our financial worries.”
Calling out the problem
Sanford noted that “… no one in Washington is talking about” the debt. None of the 2020 debates thus far have included questions about the national debt. However, many of the candidates have talked about more spending. Massive amounts of additional spending.
He is calling out Democrats. Sanford notes Republicans have been quiet on the subject, too. He notes Americans “have to do something” to pull back the national debt. The former governor adds that he’s still considering a presidential bid focused on the issue of spending.
“Some have suggested starting an advocacy group. Others have suggested running in the Republican primary against the president as a way of elevating the issue and changing the debate,” said Sanford, adding, “I don’t know what the answer is.”
If Sanford does decide to get into the race, he will likely face an uphill battle. The other Republican primary contestant currently running against President Trump is Bill Weld. Weld is a former Governor of Massachusetts.