OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

MANCHIN, ROMNEY SPEAK BEFORE HOUSE BUDGET COMMITTEE ON BIPARTISAN FISCAL STABILITY ACT

Press Release

Date: Nov. 29, 2023
Location: Washington, D.C.
Issues: Budget, Spending and Taxes

"As of 2030--only six years from now--interest expense for the federal government will exceed either defense spending or domestic discretionary spending…Simpson-Bowles told us about this crisis, but it's already here and our legislation has a built-in path to avoid some of the challenges that were associated with the Simpson-Bowles failure to actually reach a conclusion. If we don't fix this mess that our country is in, it's hard for me to imagine a circumstance where America is able to continue to lead the world. If we're spending more on interest than we're spending on defense, then how in the world are we going to keep up with China, which is already spending a lot more on procurement than we are today. So, this is a decision we have. We're either going to be known as a generation that took on tough challenges and solved them or one that didn't."


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