How does national debt affect average taxpayers

How does national debt affect average taxpayers?

UC's Portman Center to examine question at symposium March 30

The United States' growing national debt affects people in surprising ways, a University of Cincinnati professor told WVXU's Cincinnati Edition.

UC College of Arts and Sciences Professor Andrew Lewis, executive director of the Portman Center for Policy Solutions, joined the show with former U.S. Sen. Rob Portman for whom the center is named. They joined host Lucy May to talk about the $39 trillion national debt, why it's growing and what it means to the average taxpayer.

The center will address the topic of national debt at its annual symposium March 30 at UC's Nippert West Pavilion. Registration is required.

"This is uncharted territory. And it's driving up interest rates already," Portman said. "It affects inflation, jobs and America's standing in the world."

The debt affects other federal programs upon which many Americans depend, Portman said. He noted that the Social Security Trust Fund will not be self-supporting as early as 2033. Having high national debt means there is less money to support other needed programs and services.

"When you poll young people and ask if they think they will ever receive Social Security, they say no," Portman said. "These are serious problems we have to face as a country."

Portman suggested an independent commission could be useful to find solutions that could be presented to Congress. Lewis said raising taxes, cutting services or both is a hard sell for many politicians seeking re-election.

"You're going to need to have buy-in from people to make this happen," Lewis said.

Listen to WVXU's Cincinnati Edition.

Featured image at top: UC's Portman Center for Policy Solutions will host a symposium on the national debt titled Securing our Fiscal Future on March 30 at Nippert West Pavilion. Photo Illustration/Douglas Rissing/iStockPhoto

School of Public and International Affairs Professor Andrew Lewis, executive director of UCs Portman Center for Policy Solutions, was a guest on WVXU's Cincinnati Edition to talk about the country's $39 trillion national debt. Photo/Michael Miller

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