South Carolina Runoff Highlights Debt Debate

The U.S. government borrowed $431 billion in July. That figure is about 29 times the entire budget of South Carolina. The national debt now approaches $40 trillion, so each American owes roughly $120,000. Experts say this level of borrowing is unsustainable and could cause a cascade of serious problems.

Social Security's cost‑of‑living increase will rise from 2.8 percent to 3.2 percent next year. This change pushes the projected exhaustion of the trust fund to 2032. If Congress does not add money, benefits would be cut by 22 percent.

In the recent primary, only about 11 percent of South Carolina voters turned out. They rejected the only Republican Senate candidate who promised to think for himself on fiscal issues. Former Governor Mark Sanford, who planned to make the debt his top priority, also lost. The two remaining candidates, Senator Darline Graham and Representative Ralph Norman, have generally supported the president's agenda. Norman has called himself a spending hawk, voting against aid for low‑income families, but he also voted for tax cuts and backed a bill that could add $5 trillion to the debt.

During their runoff debate, both candidates could pledge to control the deficit even if it means opposing the president. They could also commit to reforms that keep Social Security solvent. A candidate who takes that stance would likely gain more support from voters.