Forging a sustainable path to fiscal responsibility is critical to maintaining U.S. preeminence amid new and evolving threats around the world. A strong military and vibrant economy are important pillars of America's global leadership and competitiveness. Neither should be compromised by chronically high debt or the devastating impact of the "fiscal cliff."
A federal debt exceeding $16 trillion and the rapidly approaching tax hikes and cuts to defense -- which make up the "fiscal cliff" -- have amplified widespread concerns about America's future. Unless current policy is changed before January, the effect could inflict serious harm on our economy and military readiness.