REP. FEENSTRA: Democrat bill paves way for national deficit to increase by $2.1 trillion

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Rep. Randy Feenstra (R-IA04) spoke this afternoon on the House Democrats’ reconciliation bill. Their shell budget proposal, which is disingenuously being sold to the public as “COVID relief,” paves the way for our national deficit to increase by $2.1 trillion.

 

Below is the full text of his remarks, as prepared for delivery:

I rise today in opposition to House Continuing Resolution 11, which paves the way for our national deficit to increase by $2.1 trillion.

Our current debt is $28 trillion. Let us put this into perspective for a moment. 

This budget never balances. It will push our nation’s debt to $41 trillion by the end of its forecast.

Our country only takes in $3.4 trillion in revenue a year. Yet, we have spent double that on stimulus in the last 12 months.

This out-of-control spending is jeopardizing the future of Social Security and Medicare. Every senior should be deeply concerned by the possibility of losing their social security based on this out-of-control spending.

Currently, our country pays about 2 percent interest on this debt.  That is historically low. Meaning, it will not stay at 2 percent. If our interest rate increases on this debt, we will struggle to fund discretionary programs like national defense and infrastructure, because the money will need to go towards interest.

That is dangerous, fiscally irresponsible, and reprehensible.

Just like a business or a family, when the credit card bill comes due, and there is not enough money, something needs to be cut. The Democrats have put our nation in a perilous situation with this out-of-control spending.

We must take our growing national debt crisis into account before passing this $2 trillion budget that pays for a laundry list of Progressive policies. 

Keep in mind: At least $1 trillion in previously allocated COVID relief funds still have not been spent.

Combined with previous legislation, the Democrats’ latest proposal would bring the total cost of COVID stimulus to $6 trillion.

We are saddling our children, and even our grandchildren, with debt by focusing on the politics of today and not worrying about our nation’s future. 

This budget must be stopped!

Author: Press Release