Mark Sanford wants to wrest the Republican presidential nomination from Donald Trump. He thinks that focusing on rising federal spending and debt is the way to do this.
Sanford announced his candidacy on Fox News Sunday over the weekend. On Twitter, he wrote that he was running for president because of his concern over rising national spending and debt accumulation:
We have a storm coming that we are neither talking about nor preparing for given that we, as a country, are more financially vulnerable than we have ever been since our Nation’s start and the Civil War. We are on a collision course with financial reality. We need to act now.
As discussed in a VoteSpotter Deep Dive, federal spending, the deficit, and debt are all rising. Yearly deficits are likely to reach over $1 trillion per year for the next decade. Phil Swagel, head of the Congressional Budget Office, recently wrote:
The nation’s fiscal outlook is challenging. Federal debt, which is already high by historical standards, is on an unsustainable course, projected to rise even higher after 2029 because of the aging of the population, growth in per capita spending on health care, and rising interest costs.
According to Sanford, President Trump bears a large responsibility for what he sees as a looming fiscal crisis. He noted that the president embraces debt and has presided over a large expansion of federal spending.
A former South Carolina governor and member of Congress, Sanford lost his seat to a Trump-backed primary challenger last year. He had been a critic of the president during his time in Congress, focusing mainly on what he saw as unsustainable federal spending.
Do you think that rising federal spending and debt are problems?