Times Square billboard warns about 'ticking time bomb' of $34 trillion national debt
Committee to Unleash Prosperity says there is an 'existential threat posed by growing government debt spending'
NYC Times Square billboard warns of 'ticking time bomb' of US national debt
Committee to Unleash Prosperity launches new campaign warning American public about "reckless" government spending.
A nonprofit has launched a new billboard campaign in New York City’s Times Square warning the American public about the "ticking time bomb of $34 trillion government debt."
The Committee to Unleash Prosperity (CTUP) says the ad campaign on the 50-foot-high billboard will run for three months, "dramatizing the threat posed to the American people" by "reckless" spending in Washington, D.C.
The billboard shows people running away from a rising national debt total before an explosion clears away the screen and reveals the message, "Scared of the national debt? You should be."
"The display is part of CTUP’s effort to educate Americans to the existential threat posed by growing government debt spending that causes rising prices and threatens national bankruptcy," the organization said in a statement to FOX Business.
US NATIONAL DEBT TOPS $34 TRILLION FOR FIRST TIME IN HISTORY
The billboard in New York City’s Times Square shows people running away from a rising U.S. national debt figure. (Committee to Unleash Prosperity)
On its website, CTUP says its mission is to "educate policy makers and the public about government policies that have been proven, in practice, to maximize economic growth and equitable prosperity in America and around the world."
"The Committee’s mission is not partisan and not political," the website adds. "Our mission simply is to identify those policies best suited to unleashing prosperity and to educate policy makers on the best practices to achieve equitable prosperity."
At the start of this year, the U.S. national debt topped $34 trillion for the first time.
SEE WHAT AMERICAN TAXPAYERS OWE IN REAL TIME
The billboard in New York City flashes the message, "Scared of the national debt? You should be." (Committee to Unleash Prosperity)
By comparison, four decades ago the national debt hovered around $907 billion.
The national debt is expected to nearly double in size over the next three decades, according to the latest findings from the Congressional Budget Office. At the end of 2022, the national debt grew to about 97% of gross domestic product.
Under current law, that figure is expected to skyrocket to 181% at the end of 2053 — a debt burden that will far exceed any previous level.
The U.S. national debt surpassed $34 trillion for the first time in January. (Julia Nikhinson/Bloomberg via / Getty Images)
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"Though our level of debt is dangerous for both our economy and for national security, America just cannot stop borrowing," Maya MacGuineas, president of the Committee for a Responsible Federal Budget, a nonprofit group, said in January.
FOX Business’ Megan Henney contributed to this report.