Chairman Arrington in Wall Street Journal: “It’s a perilous path for a nation to spend more to finance its past than to secure its future”
“Under [President Trump’s] leadership, by cutting spending and controlling the national debt, the U.S. can launch an era of unparalleled strength and prosperity.”
WASHINGTON, D.C. – U.S. House Budget Committee Chairman Jodey Arrington (R-Texas) penned an op-ed in The Wall Street Journal highlighting how surging debt and resulting interest costs are threatening America’s economic standing and the historic opportunity for President Trump and congressional Republicans to restore fiscal sanity to Washington.
Chairman Arrington in The Wall Street Journal:
“Treasury Secretary Scott Bessent is concerned about America’s large and growing national deficit. “We have never seen this before when it is not a recession or not a war,” he said during his confirmation hearings. He’s right. Our deficit is unsustainably high, and without a course correction it will undermine efforts to promote economic growth and reduce inflation and threaten our standing as the world’s superpower.
Joe Biden’s fiscal legacy can be summarized in one shameful milestone: The federal government now spends more paying interest on the national debt than it does on defense. Interest spending nearly tripled during Mr. Biden’s term. This is a disastrous result of his reckless spending spree, which ballooned the debt, triggered rampant inflation and increased borrowing costs for consumers and businesses. As Republicans prepare to turn the page and execute President Trump’s America-first agenda, surging interest costs represent a ticking time bomb that must be defused.”
Read Chairman Arrington’s full op-ed HERE.
