On the recordFebruary 19, 2025
Mr. President, today, after 4 years of reckless spending and decades of high inflation under the Biden-Harris administration, our national debt now sits at $36.4 trillion. In many ways, this number represents one of the biggest threats to our Nation, as interest payments on the debt now eclipse our country's total defense spending. Think about that. The debt--interest on the debt--is costing the hard-working taxpayer more of their money. It is taking a greater share of their tax dollars than we are spending to provide for the common defense. It is astounding that that is where we are, but this problem has gotten worse through the years. During the last few months of the Biden administration, October to December of last year, our country ran a deficit of more than $710 billion, up 39 percent from the same period in 2023. The American people know this is unsustainable. Among many other reasons, that is why the American people showed up in record numbers and gave a mandate to Donald J. Trump as the President of the United States, winning the electoral college and the popular vote. The American people know full well they are overtaxed. Government is overspent. And they are tired of it. And since Inauguration Day, the President has been hard at work on this issue, getting the economy under control. And one of the first things he did, back in office, was to establish the Department of Government Efficiency.…





