Press Releases

WASHINGTON, D.C. – House Budget Chairman Jodey Arrington (TX-19) issued the following statement as the U.S. national debt soared past a record $37 trillion:

“This week’s news that the United States’ national debt has surpassed $37 trillion is a stark reminder of our dire fiscal straits. 

“When my son was born in 2011, the national debt was $15 trillion. Now, 14 years later, it exceeds the GDP of the other five largest economies combined.

“Today, we spend nearly $1 trillion a year just to pay the interest on our debt—more than we spend on our entire national defense or Medicare benefits for our seniors. 

“This is the predictable and perilous result of decades of fiscal mismanagement in Washington. If we do nothing, the CBO projects our debt will soar to $150 trillion by 2055.

“Republicans took a generational step in the One Big Beautiful Bill to rein in mandatory spending and unleash economic growth. We are proposing further spending reductions through rescissions and appropriations, and President Trump’s reciprocal trade policy has resulted in record tariff revenue.  

“If we continue in vigilance to get our fiscal house in order, we will avoid a potentially irreparable debt crisis, and America will remain the global leader for the remainder of the 21st century.”

Background:

• This chart from the House Budget Committee shows U.S. gross federal debt surging from $1 trillion in 1982 to $37 trillion today, with projections reaching $59 trillion in ten years and $150 trillion by 2055. 

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