Dr. Joyce: President Biden’s Budget Must Include Plan to Reduce Debt

Washington, DC – Today, Congressman John Joyce, M.D. (PA-13), spoke on the floor of the U.S. House of Representatives in response to a February Congressional Budget Office (CBO) report that says the United States will owe $10.1 trillion in interest payments alone on our national debt over the next decade.

“The trillions we pay in interest does nothing to keep us safe, it does nothing to fund Medicare, and it does nothing to secure our border,” said Congressman Joyce. “This debt has caused skyrocketing inflation, decimated savings accounts, and mortgaged our nation’s future.”

Watch Congressman Joyce’s remarks here.

Currently, the CBO projects the national debt will reach $154 trillion by 2053, equivalent to more than $1 million per American household ($540,000 after adjusting for inflation). This is more than four times the current median household net worth ($122,000).

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