III 

117TH CONGRESS 

1ST SESSION S. RES. 147 

Recognizing the national debt as a threat to national security. 

IN THE SENATE OF THE UNITED STATES 

MARCH 25, 2021 

Mr. BRAUN (for himself, Mrs. BLACKBURN, Mr. SCOTT of Florida, and Ms. 

ERNST) submitted the following resolution; which was referred to the 

Committee on Finance 

RESOLUTION 

Recognizing the national debt as a threat to national 

security. 

Whereas, in September 2020, the total public debt outstanding was more than $26,000,000,000,000, resulting 

in a total interest expense of more than 

$371,000,000,000 for fiscal year 2020; 

Whereas, in September 2019, the total public debt as a percentage of gross domestic product was about 100 percent; 

Whereas leaders of the Congressional Budget Office and the 

Government Accountability Office have testified that— 

(1) the growth of the public debt is unsustainable; 

and 

(2) Congress must undertake extensive fiscal consolidation to combat that growth; 


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•SRES 147 IS 

Whereas the last Federal budget surplus occurred in 2001; 

Whereas, in fiscal year 2020, Federal tax receipts totaled 

$3,420,000,000,000, but Federal outlays totaled 

$6,652,000,000,000, leaving the Federal Government 

with a 1-year deficit of $3,132,000,000,000; 

Whereas, since the last Federal budget surplus occurred in 

2001, Congress— 

(1) has failed to maintain a fiscally responsible 

budget; and 

(2) has had to raise the debt ceiling repeatedly; 

Whereas the Medicare Board of Trustees projects that the 

Medicare Hospital Insurance Trust Fund will be depleted 

in 2026; 

Whereas the Social Security and Medicare Boards of Trustees project that the Disability Insurance and the Federal 

Old-Age and Survivors Insurance Trust Funds will be depleted in 2026 and 2031, respectively; 

Whereas heavy indebtedness increases the exposure of the 

Federal Government to interest rate risks; 

Whereas the credit rating of the United States was reduced 

by Standard and Poor’s from AAA to AA+ on August 

5, 2011, and has remained at that level ever since; 

Whereas, without a targeted effort to balance the Federal 

budget, the credit rating of the United States will 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 $7,000,000,000,000 of Federal debt is 

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•SRES 147 IS 

cluding more than $1,000,000,000,000 of which is owned 

by individuals in China; 

Whereas China and the European Union are developing alternative payment systems to weaken the dominant position 

of the United States dollar as a reserve currency; 

Whereas rapidly increasing interest rates will squeeze all policy priorities of the United States, including defense policy and foreign policy priorities; 

Whereas the National Security Strategy of the United States, 

as of the date of adoption of this resolution, highlights 

the need to reduce the national debt through fiscal responsibility; 

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, Director of National Intelligence 

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 Defense 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 national 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 

1 Resolved, That the Senate— 


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•SRES 147 IS 

1 (1) recognizes that the national debt is a threat 

2 to the national security of the United States; 

3 (2) realizes that persistent, structural deficits 

4 are unsustainable, irresponsible, and dangerous; and 

5 (3) commits to addressing the looming fiscal 

6 crisis faced by the United States. 

Æ 


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