Ken Buck: “I will take the next half hour to talk about the national debt, our spending, and our deficit. Somebody asked how big is…”

“I will take the next half hour to talk about the national debt, our spending, and our deficit. Somebody asked how big is our national debt? Well, Federal debt is $32 trillion. The $32 trillion mark arrived 9 years sooner than pre-pandemic forecasts had projected, reflecting the trillions of dollars of emergency spending to address COVID-19's impact on our sluggish economy. How much does each individual owe? According to the U.S. Treasury's official figure for the debt, the Federal Government is at $32 trillion in debt or, more precisely 32-- well, I am not even going to go into it. It is just a lot of money, and it equates to $95,660 for every person living in the U.S., or $242,570 for every household in the U.S. This is an existential threat to our country. Mr. Speaker, I yield to the gentleman from Arizona (Mr. Schweikert), my good friend, to talk more about the big picture of the debt, then we are going to talk about some specific issues.”