“Republicans promised millions of voters that we would fight to change the status quo, and it is long past time to deliver,” the caucus said. “America is on the path to fiscal ruin. We are rapidly approaching $34 trillion in debt — roughly $100,000 for every American — and our debt-to-GDP ratio is higher now than it was during World War II. When the 118th Congress concludes a year from now, with continued monthly deficits of $200 billion despite record tax revenues, our national debt will exceed $36 trillion and annual interest to service the debt will reach nearly $1 trillion. To call this ‘unsustainable’ is an understatement. It is a fiscal calamity.”
“As Congress negotiates FY (Fiscal Year) 2024, Republicans must truly reduce programmatic spending year-over-year from the enacted FY2023 level, and end the use of disingenuous gimmicks to conceal from Americans the real spending harm being perpetrated by their elected representatives,” the caucus said. “Anything less represents more failure and suffering for the American people.”