Title: Recognizing the national debt as a threat to national security.
Policy area: Economics and Public Finance

Summary:
This resolution recognizes that the national debt is a threat to national security and that deficits are unsustainable, irresponsible, and dangerous. It also commits to (1) restoring regular order to the appropriations process, and (2) addressing the fiscal crisis faced by the United States.

[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 417 Introduced in House (IH)]

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117th CONGRESS
  1st Session
H. RES. 417

    Recognizing the national debt as a threat to national security.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 20, 2021

Mr. Biggs (for himself, Mr. Davidson, Mr. Cloud, Mr. Newhouse, Mr. Hice 
 of Georgia, Mr. Brooks, Mr. Budd, Mr. Buck, Mr. DesJarlais, Mr. Hern, 
  Mr. Rouzer, Mr. Perry, Mr. McClintock, Mrs. Greene of Georgia, Mr. 
Palmer, Ms. Mace, Mr. Mooney, Mr. Cline, Mr. Weber of Texas, Mr. Emmer, 
 Mr. Gosar, Mr. Bishop of North Carolina, Mrs. Lesko, Mr. Gohmert, Mr. 
Gaetz, Mr. Grothman, and Mr. Mast) submitted the following resolution; 
 which was referred to the Committee on the Budget, and in addition to 
   the Committee on Ways and Means, for a period to be subsequently 
   determined by the Speaker, in each case for consideration of such 
 provisions as fall within the jurisdiction of the committee concerned

_______________________________________________________________________

                               RESOLUTION


 
    Recognizing the national debt as a threat to national security.

Whereas, in May 2021, the total public debt outstanding was more than 
        $28,000,000,000,000, resulting in a total interest expense of more than 
        $390,000,000,000 for fiscal year 2020;
Whereas, on May 18, 2021, the total public debt as a percentage of gross 
        domestic product was 143.00 percent;
Whereas, on May 18, 2021, the debt owed per citizen was $84,940 and $225,309 per 
        taxpayer;
Whereas the last balanced Federal budget was signed into law in 1997;
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 every year since the last balanced Federal budget was signed in 1997, 
        Congress has failed to maintain a fiscally responsible budget and has 
        typically relied on raising the debt ceiling;
Whereas the House of Representatives failed to pass a balanced budget for fiscal 
        year 2019 and failed to restore regular order to the legislative process 
        by not allowing Representatives to offer and debate amendments;
Whereas regular order permits the House of Representatives to separately debate 
        and adopt all appropriations bills in a timely fashion and facilitates 
        congressional oversight of Federal spending;
Whereas the Social Security and Medicare Boards of Trustees project that the 
        Federal Hospital Insurance Trust Fund will be depleted in 2026;
Whereas the Social Security and Medicare Boards of Trustees project that the 
        Federal Old-Age and Survivors Insurance Trust Fund and the Federal 
        Disability Insurance Trust Fund will be depleted in 2031;
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 
        since that date;
Whereas without a targeted effort to balance the Federal budget, the credit 
        rating of the United States is certain to 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 owned by individuals not 
        located in the United States, including 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, 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, former 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
    Resolved, That the House of Representatives--
            (1) recognizes that the national debt is a threat to the 
        national security of the United States;
            (2) realizes that deficits are unsustainable, 
        irresponsible, and dangerous;
            (3) commits to restoring regular order in the 
        appropriations process; and
            (4) commits to addressing the fiscal crisis faced by the 
        United States.
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