The American national debt now exceeds $36 trillion and is growing faster than our economy. In a few short years, debt will reach a record share of our gross domestic product (GDP). Our nation’s fiscal health is going down an unsustainable path.

If current policies continue, debt will total 122% of GDP in a decade’s time, adding trillions more to our accumulated debt. Interest payments are the fastest growing item in our federal budget and account for more money than defense spending and Medicare. Our leaders in Washington must act before we dig ourselves into a hole too deep to get out of.

Politicians in Washington must prioritize the debt by stabilizing its growth to our GDP, not allowing it to grow further. Once stabilized, our leaders must work toward a balanced bipartisan approach to secure our future, reviewing critical entitlement programs and considering fiscally responsible spending cuts that do not cripple the operation of the nation.