Washington, DC – Today, U.S. Senator Joe Manchin (I-WV) released the following statement on the United States national debt surpassing $35 trillion, which equals roughly $104,000 for every person in the country.
“As the Senate continues to work through government funding bills this week, it is important to keep in mind that annual appropriations represent just one-third of the federal budget. Interest payments on the debt totaled $659 billion in the last fiscal year, making it the fifth largest expenditure in the budget – and if we continue at this rate of extreme fiscal irresponsibility, it will soon be our largest expenditure. It is terrifying to think that by the end of this fiscal year, the U.S. will spend more on interest than on national defense or improving the lives of Americans.
“Our debt is the absolute greatest threat America faces today and yet, both political parties continue to choose inaction over pursuing commonsense solutions to restoring fiscal discipline. This Congress alone, I have introduced multiple bipartisan bills that would immediately get to work finding solutions to decrease our debt, including the Fiscal Stability Act and the Fiscal State of the Nation Act. The national debt does not care that it is an election year – our constituents put us here to lead, and that means putting the interests of the country ahead of political expediency. Every American is personally responsible for the debts they incur and keeping their financial house in order. The federal government must be held to the same standard.”
