America's National Debt Is a Threat to America's National Security
WASHINGTON, DC - Yesterday, Representative Mark Sanford and 33 of his Republican colleagues signed on as original cosponsors of H.Res. 919, which was introduced by Rep. Andy Biggs (R-AZ). This House Resolution recognizes the national debt as a threat to national security.
Rep. Sanford released the following statement:
“The federal deficit is expected to exceed $800 billion this year, will approach $1 trillion next year, and then remain in excess of $1 trillion for years to come. This will translate to a projected national debt of $33 trillion within a decade. It is past time for Congress to find some financial restraint and work toward balancing the budget.
“If we don’t get our financial house in order, ultimately none of the other ongoing political fights are going to matter. Our country’s national debt and the unsustainable spending that drives it represent the existential threat to our country’s existence. Accordingly, I’m proud to be a cosponsor of this resolution.”
Representative Sanford has proposed one possible solution to address the soaring debt and balance the budget: H.R. 5571, the One Percent Spending Reduction Act of 2018, better known as the Penny Plan. This bill would balance the budget by cutting one percent of government spending each year over the next five years.