Debt

I’d like to address our debt, because it is probably one of the most significant issues and challenges our country faces and has put us in a very precarious financial position that could collapse our entire economy. Politicians over the last 15, 20 years have done a horrible job of managing our government finances. But Joe Biden and his Democratic allies take the cake for the damage that they have done. We basically have racked up $7 trillion more in debt in just the last three and a half years. We’re consistently running well over a trillion dollars in deficit spending every year. Our debt-to-GDP is now over 120%. So what do these numbers all mean? It means that government spending is going to start crowding everything out. The second largest expenditure by the federal government today is just the interest cost on our debt. It’s a bigger expenditure than our entire Defense Department. And if we continue down this path, we will no longer be able to float that debt at some point, or it will cost us significant amounts more in higher interest rates. So we have to change course. Plus, what we’re doing to our children and our grandchildren is absolutely immoral. We’re leaving them with this big, giant, financial burden instead of leaving the next generation better off; we’re leaving them far worse off. So one of my absolute key priorities will be trying to rein in the debt if I get to Washington as your next senator.