WASHINGTON, D.C. – Rep. Mike Gallagher (R-WI) today released the following statement after the national debt passed $30 trillion for the first time in history.
“America’s national debt is spiraling out of control. But rather than get our fiscal house in order, Democrats continue to push for spending on new entitlements that will push our economy to the brink. This problem will obviously not age well. Republicans and Democrats alike need to come together, address runaway spending, and stop mortgaging away our future. One way we can do so is by passing my bill, the TRUST Act, which requires Congress to find a bipartisan way to prevent our nation’s critical trust funds from becoming insolvent.”
Last year, Rep. Gallagher introduced the bipartisan, bicameral TRUST Act, which would create a process to rescue the endangered federal trust funds and rein in the national debt. Gallagher also serves as an Honorary Advisor to the Millennial Debt Commission, and was named a Fiscal Hero for 2020 by the Campaign to Fix the Debt.