III 118th CONGRESS 1st Session S. RES. 87 IN THE SENATE OF THE UNITED STATES March 1, 2023 Mr. Braun (for himself, Mrs. Blackburn , Mr. Cassidy , and Mr. Scott of Florida ) 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 January 2023, the total public debt outstanding was more than $31,000,000,000,000, resulting in a total interest expense of more than $717,611,000,000 for fiscal year 2022; Whereas, in January 2023, the total public debt as a percentage of gross domestic product was about 121 percent; Whereas, in January 2023, the debt owed per citizen was $94,240 and $246,864 per taxpayer; Whereas the last Federal budget surplus occurred in 2001; Whereas, in fiscal year 2022, Federal tax receipts totaled $4,896,000,000,000, but Federal outlays totaled $6,272,000,000,000, leaving the Federal Government with a 1-year deficit of $1,376,000,000,000; Whereas the Senate failed to pass a balanced budget for fiscal year 2022 and failed to restore regular order to the legislative process by not allowing Senators to offer and debate amendments; Whereas the Social Security and Medicare Boards of Trustees project that the Federal Hospital Insurance Trust Fund will be depleted in 2028; 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 2034; 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 $7,270,000,000,000 of Federal debt is owned by individuals not located in the United States, including more than $870,000,000,000 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 would 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, 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

That the Senate— (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 preventing the looming fiscal crisis faced by the United States.