RALEIGH — The national "Fix the Debt" campaign has launched an effort in North Carolina.

The bi-partisan group of business and political leaders is calling on folks in Washington to compromise and find a fix for the ballooning national debt.

Congress may be working through a lame duck session right now, but it has a big issue on the table before the end of the year.

“We’ve got to fix the debt,” said former Gov. Jim Hunt on Tuesday.

The campaign to “Fix the Debt” is a national initiative founded by former UNC President Erskine Bowles and former U.S. Sen. Alan Simpson. It has several key goals:

-Cut wasteful spending
-Reduce military spending while protecting national security
-Slow health care cost growth
-Fix social security for future generations
-Reform the tax code.

The national group is now bringing its message to the state level by launching an effort in North Carolina on Tuesday.

State business and political leader from both sides of the aisle came together in a press conference to say the fiscal cliff needs to be avoided and everyone needs to work together to do just that.

“Everyone in Washington worthy of representing the American people must be willing to compromise,” said Hunt, a Democrat.

Some advocates said the Fix The Debt campaign is not focused enough and held a demonstration outside the press conference. They said they believe the first step to fixing the problem is raising more revenue.

“The question is how are we going to do that,” said Justin Guillory with Progress NC, “and we think it is more appropriate for the top two percent to pay their fair share.”

Supporters of the effort said tax increases and spending reductions in many areas are going to have to happen, and everyone will have to compromise to fix the debt.

“It is hard, and its tough,” says former Gov. Jim Holshouser, a Republican. “But it’s the right thing to do. And all of us are counting on them to do it.”

North Carolina’s efforts on the “Fix the Debt” campaign are being headed by former GlaxoSmithKline CEO Bob Ingram and former Bank of America CEO Hugh McColl.