; it hurts future generations who will be left to pay off the bills. Taking care of this generation shouldn’t require robbing the next. This is why Republicans have fought for fiscal responsibility in Congress. . (C) As the Cato Institute wrote in 2016, The debt matters. Not only is it remarkably unfair to our children and grandchildren, it is imposing costs today. Our economic growth is slower and our wages lower than they would be if it were smaller. Other political and economic priorities are being squeezed out. Interest on the debt was projected to reach $261 billion this year, and exceed $500 billion by 2020 even before factoring in the recent budget-busting deals. . (D) In August of 2016, President of the Committee for a Responsible Federal Budget, Maya MacGuineas, said, The evidence is clear: Reducing our projected long-term debt will promote economic growth