Congressman Biggs’s Statement on National Debt Surpassing $40 Trillion
GILBERT, ARIZONA- This week, the United States government surpassed $40 trillion in debt, doubling its financial burden over the past decade. In addition, the U.S. Treasury Department reported a July deficit of more than $432 billion, further underscoring the nation’s worsening fiscal outlook.
The national debt’s rapid ascent reflects decades of unchecked federal spending and repeated failures to impose meaningful fiscal discipline.
“It was fitting that America reached this grim debt milestone while legislators were absent from our nation’s capital,” said Congressman Biggs. “For decades, Members of Congress have shown catastrophic unseriousness about reining in government spending and leaving a better future for the next generation. Regardless of which party controls Congress, I have sounded the alarm on this fiscal cliff since I entered the U.S. House of Representatives and have introduced legislation to help solve this crisis. Our children and grandchildren will be forced to suffer the immense consequences of this inaction and fear of making tough decisions. No one should be surprised when that time arrives for our great nation.”
Throughout his time in the U.S. House, Congressman Biggs has introduced several measures to address America’s growing debt crisis, including the following pieces of legislation:
- A constitutional amendment requiring the federal government to operate under a balanced budget by permanently prohibiting deficit spending and placing a two-thirds supermajority requirement on any bill that creates a new tax in any way.
- Resolution formally recognizing America’s debt as a threat to its national security.
- Hundreds of bills to reduce nondefense discretionary spending.
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