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National debt group launches NC lobbying effort

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RALEIGH, N.C. (AP) - Two former North Carolina governors say everyone's going to have to make some sacrifices for America's leaders to find a pathway to reduce the national debt that also brings long-term growth and stability.

Former Democratic Gov. Jim Hunt and former Republican Gov. Jim Holshouser spoke Tuesday at a Raleigh hotel, where a national group called the Fix the Debt Campaign launched its North Carolina chapter.

The campaign was founded by former Wyoming Republican Sen. Alan Simpson and Democrat Erskine Bowles of Charlotte. They led a national panel that developed a blueprint to cut the $16 trillion national debt that included tax increases and spending cuts.

Co-chairmen of the North Carolina chapter are former GlaxoSmithKline chief executive Bob Ingram and former Bank of America CEO Hugh McColl.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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