[Salon] Bipartisan Fiscal Forum Discusses Debt on House Floor

[Chas Freeman <cwfresidence@gmail.com>]

Bipartisan Fiscal Forum Discusses Debt on House Floor

September 25, 2024

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Members of the Bipartisan Fiscal Forum (BFF) spoke yesterday on the House of Representatives floor to highlight the danger posed by our mounting national debt and fiscal challenges during a Special Order period. We appreciate Representative Ed Case (D-HI) for organizing the Special Order speeches and Representatives Glenn Grothman (R-WI), Chrissy Houlahan (D-PA), Bill Huizenga (R-MI), and Blake Moore (R-UT) for participating.

The five members used their remarks to call much-needed attention to our unsustainable debt, provide federal budgeting background, share the causes and significant consequences of our debt, and propose what Congress can do to begin to address the debt and improve the budget process. Many members spoke on the threat of rising interest costs and specific proposals like the Fiscal Commission Act, the Fiscal State of the Nation Act, and the Stop the Baseline Bloat Act. The lawmakers took a positive tone, explaining they are proud to be part of the Bipartisan Fiscal Forum and expressing a commitment to working together to address the debt. Thank you to these members for speaking out to elevate the debt issue among their colleagues and the public.

Below are highlights and quotes from the speeches. Watch the special order speeches in full here:

Representative Ed Case (D-HI) explained the growing debt is a crisis:

He argued that bipartisan agreement on the problem is essential and walked through key concepts like deficits, debt, and interest. He discussed the history of debt over the past few decades and its growing trajectory moving forward. Representative Case outlined the reasons why debt matters, including its impact on interest rates, crowding out other spending, and national security risks, such as foreign countries holding U.S. debt.

He urged his colleagues to acknowledge the issue and reach a bipartisan consensus that it needs addressing. Representative Case cautioned against relying on unrealistic solutions like trying to "grow our way out" of the problem. He recommended adhering to PAYGO and enacting a fiscal commission and stressed that doing nothing will be far more difficult than acknowledging the debt crisis and taking action.

Representative Glenn Grothman (R-WI) discussed our historically high debt levels:

Additionally, he talked about how debt is a problem caused by both parties. He criticized lawmakers for inappropriately categorizing certain spending as emergency spending. He spoke about the Stop the Baseline Bloat Act, co-led by Representative Case, which would remove one-time emergency spending from the Congressional Budget Office baseline.

Representative Chrissy Houlahan (D-PA) discussed the connection between debt and national security:

Representative Houlahan also noted the work of BFF in finding durable solutions to our national debt, like a fiscal commission or the Fiscal Responsibility Act, which policymakers enacted last year. She discussed the unsustainable size of our debt, the mounting costs of interest payments, and the opportunity that upcoming fiscal deadlines present to take action on these issues.

Representative Bill Huizenga (R-MI), Co-Chair of BFF, talked about the importance of addressing the expanding national debt, and how BFF stands ready to work with anyone interested. He explained that rising debt harms economic growth, threatens disruptive cuts to key programs, pushes up interest rates, and leaves us less prepared for emergencies:

Representative Huizenga highlighted the urgent need for bipartisan solutions, such as his bipartisan Fiscal Commission Act, co-led by fellow BFF Co-Chair Representative Scott Peters (D-CA). In addition, he spoke of the need to raise awareness about the debt among colleagues, back home in individual districts, and across the country.

Representative Blake Moore (R-UT) opened by discussing the national debt as one of the biggest threats to the security and future of the country:

Representative Moore touched on other topics as well, highlighting his introduction of the Fiscal State of the Nation Act and praising his colleagues on their introduction of the Fiscal Commission Act. He mentioned a Debt and Deficit Task Force he created in his district and concluded by acknowledging the upcoming challenges and fiscal cliffs of 2025.

More than ever before, our country needs lawmakers willing to tackle the complex and difficult fiscal challenges we face. Though members may not always agree on the solutions, our elected officials need to commit to working together to put our country back on a sustainable path. We again thank Representatives Case, Grothman, Houlahan, Huizenga, and Moore for their work elevating the debt issue through the BFF. 

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