On the recordJune 9, 2021
Mr. President, America is in a debt crisis. It appears, for Joe Biden and my colleagues across the aisle, reckless spending has only just begun. If left unchecked, this spending will be devastating for families in my State of Florida and all across our great Nation. Washington's insane spending has our Federal debt rocketing toward $30 trillion. That is equal to $233,000 of debt for every American family. Think about that. America's debt crisis, caused by decades of wasteful and reckless spending by Washington politicians, has now grown to the equivalent of every American family owing a quarter of a million dollars in debt. Yet Biden and my colleagues across the aisle want more President Biden is pushing for trillions in wasteful spending, raising the U.S. Federal debt by 60 percent, to $39 trillion, and the debt-to-GDP ratio to 117 percent in 2030, the highest level ever recorded in American history. Enough is enough. It is time to end the madness. Today I am introducing the Federal Debt Emergency Control Act to help bring some accountability back to Washington. On July 31, the current suspension of the Federal debt ceiling is set to expire, giving Congress a choice: Act responsibly to reduce Federal debt through structural reform to how we approach spending or suspend the debt ceiling again, allowing more reckless spending that will cripple our Nation with insurmountable debt. Reckless spending has consequences. We are already seeing rising inflation.…





