Palmer on Debt Ceiling Extension: “Our Debt has Become a Major Threat to the Future of All Americans”

For Immediate Release
Media Contact: Elizabeth Hance (202) 225-4921

Palmer on Debt Ceiling Extension: “Our Debt has Become a Major Threat to the Future of All Americans”

Washington, D.C. – Speaker Nancy Pelosi called the House of Representatives to a one-day session this week in order to pass an extension of the U.S. debt limit. By raising the debt limit, while continuing their efforts to pass their $1.2 trillion infrastructure bill, along with their $4 trillion reconciliation tax and spend bill, Democrats show how oblivious they are to the national debt crisis. Congressman Gary Palmer (AL-06) released the following statement:

“Democrats just raised the debt limit while also trying to pass the most expensive piece of legislation in the history of the United States,” Palmer said. “We are already at a point where U.S. debt is at 125 percent of our GDP (Gross Domestic Product). This means that our debt is now 25 percent larger than the entire U.S. economy. The debate over raising the debt limit should have been a pause point to allow Democrats and Republicans to work together to deal with our unsustainable debt. The reckless disregard for our debt crisis has become a national security threat, and it is undermining the security and well-being of the current and future generations. Instead of increasing the debt limit while trying to spend over $5 trillion more, Congress should be working to craft legislation focused on growing our economy, ensuring our energy security, creating jobs, and finding every reasonable way to reduce our debt, which has become a major threat to the future of all Americans.”

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