The House Freedom Caucus is sounding the alarm about America’s massive national debt , which is nearing $34 trillion, and calling for government spending cuts.
In a press release headlined “House GOP’s New Year Resolution Must Be Cutting Spending,” the conservative coalition labeled the nation’s current situation “a fiscal calamity.”
“America is on the path to fiscal ruin. We are rapidly approaching $34 trillion in debt — roughly $100,000 for every American — and our debt to GDP ratio is higher now than it was after World War II. When the 118th Congress concludes a year from now, with continued monthly deficits of $200 billion despite record tax revenues, our national debt will exceed $36 trillion and annual interest to service the debt will reach nearly $1 trillion. To call this ‘unsustainable’ is an understatement. It is a fiscal calamity,” the statement declares.
“As Congress negotiates FY 2024 governement funding, Republicans must […]
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