Peters Takes to Senate Floor, Calls for Bipartisan Action to Address the Growing National Debt

WASHINGTON, DC – U.S. Senator Gary Peters (MI) took to the Senate floor to share his concerns about the growing national debt and urge his colleagues to work in a bipartisan way to address this serious issue. The national debt now sits at more than $36.8 trillion, and as this number continues to rise, Peters underscored how it will negatively impact the daily lives of hardworking Americans.

“The larger our debt becomes, the more money we must dedicate to paying it off, and that often means fewer resources that we can invest back in our communities. Whether it’s to upgrade infrastructure, improve our schools, or support local economic development in our communities,” Peters said during his speech. “It means fewer resources for critical programs that support early childhood education, boost workforce development, expand access to quality, affordable housing, and more. Things that actually benefit every person in this country.”

During the speech, Peters also underscored the long-term impacts that high federal debt and interest payments have on both our economic and national security. This follows Peters’ work to introduce bipartisan legislation earlier this month that would require key Administration officials to issue a report every four years examining how the current U.S. financial situation may impact our ability to effectively respond to emerging economic or geopolitical crises and meet mandatory spending obligations.

To watch the full video of Peters’ speech on the Senate floor, click here.

“If we face another major emergency, like a pandemic or a global financial crisis, there’s serious concern that we may be too hamstrung by our debt to respond effectively.?This fact should concern every American,” Peters continues. “And as we work to address this issue in a tangible way, we need to make sure we understand the full scope of how our growing national debt threatens our national security.”

Peters went on to reiterate the need for cooperation and bipartisan action to address our current financial situation with the urgency it deserves.

“Instead of the political gamesmanship and polarization that has taken root in our democracy, this situation will require everyone, everyone rowing in the same direction. Congress will have to come together in a bipartisan manner to find commonsense measures that strategically address our nation’s debt, while investing in economic growth and hardworking, middle-class families,” said Peters.

In the coming months, Peters plans to give a series of speeches on the Senate floor to further examine the dire situation posed by our national debt and discuss solutions for how to best address the issue moving forward.

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