Today Citizens Against Government Waste (CAGW) and Americans for Prosperity Foundation (AFP Foundation) announce the co-release of a national ad campaign drawing attention to the country’s spending addiction and the dangers of the national debt. The ad, known as the “Chinese Professor,”will run from Sunday, October 21, through Sunday, November 11, on national cable networks and in select markets across the country.
This ad, which features a chilling look at one potential future scenario if the nation continues on its current path, pays homage to a 1986 ad that was produced by W.R. Grace & Co. called “The Deficit Trials.” The national debt was $2 trillion in 1986 when “The Deficit Trials” was denied broadcast time for being “too controversial.” When CAGW first released the “Chinese Professor” ad, the debt had reached $13.7 trillion. Today the debt stands at $16.1 trillion, $1.15 trillion of which is held by the Chinese government, the largest foreign holder of U.S. debt.
“This ad is part of an ongoing communications program in CAGW’s decades-long fight against wasteful government spending, increased taxes, out-of-control deficit spending, and a crippling national debt,” said CAGW President Tom Schatz. “Unfortunately, fiscal year 2012 ended with a fourth consecutive $1 trillion-plus deficit. With the ‘fiscal cliff’ looming due to congressional infighting and dithering, it is becoming clear that no serious plan is on the table to cut spending and reduce the deficit without crippling the economy. As a result, we decided to partner with AFP Foundation, an organization with an exemplary commitment to promoting limited government and economic growth, to enhance our efforts to educate taxpayers about what will surely be remembered as the most pressing matter of our time.”
“The prosperity of our nation is in jeopardy,” added AFP Foundation President Tim Phillips. “Credit rating agencies have downgraded the federal government’s credit rating; 10 ex-chairs of the President’s Council of Economic Advisers have described the debt as ‘a severe threat that calls for serious and prompt attention;’ and former Chairman of the Joint Chiefs of Staff Mike Mullen referred to the national debt as the ‘single-biggest threat to our national security.’ AFP Foundation has long run ads such as this to educate the public on how excessive government spending and the resulting debt is impairing our nation’s future.”
Citizens Against Government Waste is a nonpartisan, nonprofit organization dedicated to eliminating waste, fraud, abuse, and mismanagement in government.
Americans for Prosperity Foundation is a section 501(c)(3) organization committed to educating citizens about the value of limited government and a free market economy.