Arrington and Peters Introduce Bipartisan Resolution Addressing Growing National Debt Crisis Amid COVID Recovery
Washington, December 16, 2020
Tags: Conservative Values
WASHINGTON – This week, Rep. Jodey Arrington (TX-19) introduced House Resolution 1261, with Rep. Scott Peters (CA-52) stressing the need to address the reckless and unsustainable national debt while committing necessary resources to the COVID–19 pandemic.
“While significant resources were required to handle the public health crisis and economic fallout of COVID, and additional assistance may be needed, a new crisis will emerge if Congressional leaders continue avoiding the difficult but necessary actions to address the rapidly deteriorating fiscal state of our nation,” said Rep. Arrington. “Unlike the pandemic, we don’t have the luxury of borrowing or printing our way out of a sovereign debt crisis. We must be as steadfast and vigilant about tackling our nation’s unsustainable debt as we are in seeing our country through this unprecedented public health crisis. If we don’t, we jeopardize the prosperity of our kids and grandkids, leaving them to suffer the consequences of our negligence.”
“There is no question we must do everything we can to contain the virus and address its brutal effect on our economy,” said Rep. Peters. “If we need to borrow money during this pandemic to protect the lives and livelihood of the American people, it is worth it. But once the short-term stimulus has done its job and the economy recovers, we have to correct our course to get our budget back on track. This resolution reminds us to tackle our federal deficit once the public health and economic crises come to an end.”
“Today’s priority is addressing the pandemic,” said Maya MacGuineas, President of the Committee for a Responsible Federal Budget. “At the same time, the federal debt was already growing unsustainably before this crisis, making it important to commit to dealing with our nation’s fiscal challenges once the economy is strong enough. Representatives Jodey Arrington and Scott Peters’ bipartisan leadership shows that Congress can find common ground to provide for immediate needs, while also striving to secure a strong and prosperous future.”
Background: In June, Arrington and Peters assembled a bipartisan team of 60 legislators, 30 Republicans and 30 Democrats, who called on congressional leadership to think long term about the fiscal health of our nation and address the mounting need for budget reform and debt reduction.