Recognizing the national debt as a threat to national security.

IV 118TH CONGRESS 1ST SESSION H. RES. 190 Recognizing the national debt as a threat to national security. IN THE HOUSE OF REPRESENTATIVES MARCH 1, 2023 Mr. BIGGS submitted the following resolution; which was referred to the Com- mittee on the Budget, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdic- tion of the committee concerned RESOLUTION Recognizing the national debt as a threat to national security. Whereas, in January 2023, the total public debt outstanding was more than $31,400,000,000,000, resulting in a total interest expense of more than $717,611,000,000 for fis- cal year 2022; Whereas, in January 2023, the total public debt as a percent- age of gross domestic product was 121.00 percent; Whereas, in January 2023, the debt owed per citizen was $94,240 and $246,864 per taxpayer; Whereas the last balanced Federal budget was signed into law in 1997; VerDate Sep 11 2014 22:23 Mar 01, 2023 Jkt 039200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6300 E:\BILLS\HR190.IH HR190 pbinns on DSKJLVW7X2PROD with $$_JOB 2 •HRES 190 IH Whereas, in fiscal year 2022, Federal tax receipts totaled $4,896,000,000,000, but Federal outlays totaled $6,272,000,000,000, leaving the Federal Government with a 1-year deficit of $1,376,000,000,000; Whereas every year since the last balanced Federal budget was signed in 1997, Congress has failed to maintain a fiscally responsible budget and has typically relied on raising the debt ceiling; Whereas the House of Representatives failed to pass a bal- anced budget for fiscal year 2022 and failed to restore regular order to the legislative process by not allowing Representatives to offer and debate amendments; Whereas regular order permits the House of Representatives to separately debate and adopt all appropriations bills in a timely fashion and facilitates congressional oversight of Federal spending; Whereas the Social Security and Medicare Boards of Trust- ees project that the Federal Hospital Insurance Trust Fund will be depleted in 2028; Whereas the Social Security and Medicare Boards of Trust- ees project that the Federal Old-Age and Survivors In- surance Trust Fund and the Federal Disability Insurance Trust Fund will be depleted in 2034; Whereas without a targeted effort to balance the Federal budget, the credit rating of the United States is certain to continue to fall; Whereas improvements in the business climate in populous countries, and aging populations around the world, will likely contribute to higher global interest rates; Whereas more than $7,270,000,000,000 of Federal debt is owned by individuals not located in the United States, in- VerDate Sep 11 2014 22:23 Mar 01, 2023 Jkt 039200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6300 E:\BILLS\HR190.IH HR190 pbinns on DSKJLVW7X2PROD with $$_JOB 3 •HRES 190 IH cluding more than $870,000,000,000 of which is owned by individuals in China; Whereas China and the European Union are developing alter- native payment systems to weaken the dominant position of the United States dollar as a reserve currency; Whereas rapidly increasing interest rates will squeeze all pol- icy priorities of the United States, including defense pol- icy and foreign policy priorities; Whereas, on April 12, 2018, former Secretary of Defense James Mattis warned that ‘‘any Nation that can’t keep its fiscal house in order eventually cannot maintain its military power’’; Whereas, on March 6, 2018, former Director of National In- telligence Dan Coats warned: ‘‘Our continued plunge into debt is unsustainable and represents a dire future threat to our economy and to our national security’’; Whereas, on November 15, 2017, former Secretaries of De- fense Leon Panetta, Ash Carter, and Chuck Hagel warned: ‘‘Increase in the debt will, in the absence of a comprehensive budget that addresses both entitlements and revenues, force even deeper reductions in our na- tional security capabilities’’; and Whereas, on September 22, 2011, former Chairman of the Joint Chiefs of Staff Michael Mullen warned: ‘‘I believe the single, biggest threat to our national security is debt’’: Now, therefore, be it Resolved, That the House of Representatives— 1 (1) recognizes that the national debt is a threat 2 to the national security of the United States; 3 VerDate Sep 11 2014 22:23 Mar 01, 2023 Jkt 039200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\HR190.IH HR190 pbinns on DSKJLVW7X2PROD with $$_JOB 4 •HRES 190 IH (2) realizes that deficits are unsustainable, irre- 1 sponsible, and dangerous; 2 (3) commits to restoring regular order in the 3 appropriations process; and 4 (4) commits to addressing the fiscal crisis faced 5 by the United States. 6 Æ VerDate Sep 11 2014 22:23 Mar 01, 2023 Jkt 039200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6301 E:\BILLS\HR190.IH HR190 pbinns on DSKJLVW7X2PROD with $$_JOB