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The U.S. is entrenched in more than $38 trillion of outstanding public debt. That is an average of $112,000 owed per citizen. Furthermore, nearly $8 trillion of that debt is owned by individuals not located within the U.S. Over $800 billion in debt is owned by individuals in China. This poses a serious threat to U.S. national security.
Former Chairman of the Joint Chiefs of Staff Michael Mullen said in 2011 that, “the single, biggest threat to our national security is debt.” In 2018, then Director of National Intelligence Dan Coats warned, “Our continued plunge into debt is unsustainable and represents a dire future threat to our economy and to our national security.” |
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In a formal letter addressed to President Donald Trump and members of Congress, Indiana State Comptroller Elise Nieshalla emphasized that annual federal interest payments now exceed the budgets of the U.S. Military and Medicare.
Additionally, improvements in the business climate in populous countries and aging populations around the world will likely contribute to higher global interest rates, which would squeeze all U.S. policy priorities, including defense and foreign policy. This exorbitant debt not only risks our security, but it also spells trouble for Hoosiers in the way of higher interest rates on loans like mortgage and car payments, potentially higher taxes and decreased government spending on services and infrastructure. Hoosiers, who for nearly two decades have voted in favor of fiscal responsibility and lived under a balanced state budget, do not deserve to feel these impacts. In response, I announced a resolution in the Indiana House of Representatives recognizing the seriousness of the U.S. national debt and its threat to national security. The resolution also urges Congress to commit to establishing an effective regular order for budgeting.
I am joining other state-level officials who recognize the gravity of the situation and doing what’s in our power to urge change. Please urge your congressional representatives to address the national debt. It is an issue that affects all of us and threatens our national security. Sincerely,  Tim O’Brien, State Representative |
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