The numbers are mathematical, not political. Unless the United States begins restoring fiscal discipline, future generations will inherit a nation burdened by debt, weakened by chronic overspending, and headed to a bankruptcy that could be prevented.

Washington is run by professional politicians, not statesmen, whose focus is on the next election, not the next generation. They have operated under a simple formula. Promise more benefits, avoid difficult decisions, and borrow the difference. Politicians of both parties have found it easier to finance today's priorities with tomorrow's dollars than to ask voters to accept the tradeoffs required for responsible budgeting. Voters reward this and vote for them. The result has been a steady erosion of America's financial foundation.

Most Americans understandably do not spend their evenings reading Treasury reports or Congressional Budget Office projections. They are focused on raising families, running businesses, paying mortgages, and keeping up with the rising cost of living. Yet the government's financial statements tell a story that should concern every one of us. The reports make clear that our financial direction is unsustainable.

The federal government now carries more than $39 trillion in interest-bearing debt, and that total continues to grow by roughly $2 trillion to $3 trillion each year. If current trends continue, the debt could approach $70 trillion within the next decade. Meanwhile, unfunded........

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