Mr. Speaker, our national debt exceeds $28.1 trillion. Congress year after year continues spending money with seemingly no regard for the debts we are pushing onto future generations. While it was necessary to spend a significant amount of money to get us through the COVID-19 crisis, we must now move aggressively to address the national debt, in my opinion, the most significant domestic threat that our country faces. And the sooner we take action the better. {time} 1030 Unfortunately, the current administration doesn't seem to feel the need to pursue fiscal restraint. President Biden's spending agenda is hurting families and small businesses across the country. Meanwhile, he has sent Congress a $6 trillion budget request. This additional spending will lead to even more inflation. The excessive spending Congress recently approved has already resulted in inflation. We see it every day in the skyrocketing prices of goods. And if the President and Democrats in Congress get their way on major tax hikes, the economy and working families will be hurt even more. Today, the American dollar is still king, which is how we can print and borrow money with seemingly little consequence. But huge debt-to- GDP ratios threaten that standing and could easily cause a significant decline in our standard of living.…
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