Days before the debt limit deadline, Republican lawmakers are declaring that U.S. national debt is a security threat. A new resolution has been introduced to address the issue.
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Congressman Andy Biggs (R-AZ) and Senator David Perdue (R-GA) are calling for Congress to pass a balanced budget, something that hasn’t been done since 1997.
“I think we can get on a plan that puts us on a trajectory to make a long-term balanced budget which we’re nowhere right now,” Rep Biggs said on FOX Business' Cavuto: Coast-to-Coast on Thursday.
Biggs warned that time is running out to fix the debt clock that is ticking up.
“You can do this without taking away benefits or folding on your promises, but every day you wait you lose the options to correct our problems long term," he said. “Elected officials are afraid to even mention we have this massive problem but in six, eight, ten years we’re not going to have any options.”
The debt limit was suspended last year, when the Bipartisan Budget Act of 2018 was enacted.
By law the debt limit will be reinstated on March 2.