[Congressional Record Volume 169, Number 20 (Tuesday, January 31, 2023)]
[House]
[Page H520]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




              OUR NATION IS CURRENTLY $31 TRILLION IN DEBT

  (Mr. LaMALFA asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. LaMALFA. Madam Speaker, our Nation is currently $31 trillion in 
debt. Unfunded liabilities, meaning debt we can't fund, are almost $124 
trillion.
  For the past 2 years, Democrat majorities have added $300 billion in 
new extra Federal spending. This level of spending is actually driving 
inflation. It is fueling runaway inflation that is driving up the price 
of everything from gasoline--we have known about that for a long time--
to eggs, which seems to be a more recent phenomena.
  Why do we have to keep doing this? We shouldn't. America is the land 
of plenty. America is the land of innovation. We can produce anything 
we want. We can innovate new and better ways to do it in this country. 
We are being hampered by government, regulations, lack of planning. 
Overspending by government has taken away the initiative of people to 
be able to do things on their own instead of being harmed by government 
spending and regulation.
  We have to address Washington, D.C.'s, reckless spending, which is 
driving inflation and a massive amount of debt. If the interest rates 
keep going up, we won't even be able to service the debt the way we 
should.

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