Former Texas congressman Kevin Brady and former OMB Director Russ Vought criticized President Biden’s spending as the U.S. national debt surpassed $35 trillion for the first time in history. New data from the Treasury Department revealed the milestone, with the debt hitting $35,001,278,179,208.67. Various experts, including Maya MacGuineas, president of the Committee for a Responsible Federal Budget, expressed concern over the alarming rate at which the national debt is increasing. The debt is projected to reach record levels in the coming years, with deficits continuing to rise due to factors such as increased interest rates and mandatory spending on programs like Social Security and Medicare. The federal government is facing a projected $1.9 trillion budget deficit this year, the third largest in U.S. history. Congressional leaders and the new president will have to address fiscal deadlines, such as the expiration of the debt limit suspension in January and the need for fiscal reforms. MacGuineas emphasized the importance of bridging rhetoric with action to address the growing national debt and ensure a sustainable and prosperous future for America. The focus should be on governing responsibly by paying for new spending and tax cuts, making deals, and passing budgets to tackle the escalating debt crisis.
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