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[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 1261 Introduced in House (IH)]

<DOC>

116th CONGRESS
  2d Session
H. RES. 1261

Expressing the sense of the House of Representatives on addressing the 
  reckless and unsustainable national debt while committing necessary 
                  resources to the COVID-19 pandemic.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                           December 14, 2020

  Mr. Arrington (for himself, Mr. Peters, Mr. LaHood, Mrs. Rodgers of 
 Washington, Mr. Holding, Mr. Weber of Texas, Mr. Norman, Mr. Woodall, 
Mr. Gallagher, Mrs. Lesko, Mr. Williams, and Mr. Smucker) submitted the 
following resolution; which was referred to the Committee on the Budget

_______________________________________________________________________

                               RESOLUTION

 
Expressing the sense of the House of Representatives on addressing the 
  reckless and unsustainable national debt while committing necessary 
                  resources to the COVID-19 pandemic.

Whereas, in January 2020, prior to the COVID-19 pandemic, the Congressional 
        Budget Office (CBO) projected that for fiscal year 2020, United States 
        deficit spending would total nearly $1,020,000,000,000, the first 
        trillion-dollar deficit in history not caused by the Great Recession;
Whereas, in January 2020, prior to the pandemic, the CBO projected United States 
        debt-to-GDP would rise from 80 percent to 98 percent by 2030;
Whereas even in the absence of the COVID-19 pandemic, our Nation's fiscal 
        situation was precarious and rapidly deteriorating;
Whereas, throughout 2020, COVID-19 has had a significant impact on the health of 
        our fellow citizens, our economy, and our fiscal stability;
Whereas 25,000,000 people were immediately put out of work;
Whereas in response to the health crisis, lockdowns, and an economic downturn, 
        Congress passed a series of legislative packages totaling more than 
        $3,600,000,000,000 to support hospitals, families, small businesses, 
        schools, and local governments;
Whereas as a result of these necessary measures, our fiscal condition is far 
        worse than ever before;
Whereas the ability to respond appropriately to emergencies is part of 
        responsible budgeting and an important reason to control the debt during 
        periods of economic strength;
Whereas the fiscal year 2020 budget deficit exceeded $3,100,000,000,000, more 
        than three times the prepandemic projection;
Whereas the total deficit in 2020 was 16.0 percent of the Nation's gross 
        domestic product (GDP), up from 4.6 percent in 2019 and 3.8 percent in 
        2018, and the deficit was the largest as a percentage of GDP since 1945;
Whereas the gross debt of the United States Government, which includes both debt 
        held by the public and debt held by Federal trust funds, now exceeds 
        $27,000,000,000,000;
Whereas the national debt for fiscal year 2020 has now exceeded the size of the 
        entire United States economy, and the debt-to-GDP ratio will soon reach 
        the highest level ever and is expected to continue rising at an 
        unsustainable rate; and
Whereas we recognize the need to provide temporary and targeted support to those 
        affected by the pandemic, including future assistance: Now, therefore, 
        be it
    Resolved, That the House of Representatives--
            (1) recognizes that an unprecedented response to provide 
        relief to hundreds of millions of Americans was required to 
        address the COVID-19 pandemic;
            (2) realizes that additional relief measures are required;
            (3) believes that further efforts to address the COVID-19 
        pandemic must include measures and reforms to help Congress 
        restore the Federal Government's long-term fiscal health once 
        the pandemic ends and the economy regains its strength; and
            (4) believes Congress should promote the return to regular 
        order and deliberation, and to change the broken and 
        dysfunctional budget practices that threaten both economic 
        stability and national security.
                                 <all>
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