[Congressional Record Volume 169, Number 120 (Thursday, July 13, 2023)]
[Senate]
[Pages S2586-S2587]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 419. Mr. BRAUN submitted an amendment intended to be proposed by 
him to the bill S. 2226, to authorize appropriations for fiscal year 
2024 for military activities of the Department of Defense, for military 
construction, and for defense activities of the Department of Energy, 
to prescribe military personnel strengths for such fiscal year, and for 
other purposes; which was ordered to lie on the table; as follows:

       At the appropriate place in subtitle A of title X of 
     division A, insert the following:

     SEC. ___. RECOGNIZING THE NATIONAL DEBT AS A THREAT TO 
                   NATIONAL SECURITY.

       It is the sense of Congress that--
       (1) in January 2023--
       (A) the total public debt outstanding was more than 
     $31,000,000,000,000, resulting in a total interest expense of 
     more than $717,611,000,000 for fiscal year 2022;
       (B) the total public debt as a percentage of gross domestic 
     product was about 121 percent; and
       (C) the debt owed per citizen was $94,240 and $246,864 per 
     taxpayer;
       (2) the last Federal budget surplus occurred in 2001;
       (3) in fiscal year 2022, Federal tax receipts totaled 
     $4,896,000,000,000, but Federal outlays totaled 
     $6,272,000,000,000, leaving the Federal Government with a 1-
     year deficit of $1,376,000,000,000;
       (4) the Senate failed to pass a balanced budget for fiscal 
     year 2022 and failed to restore regular order to the 
     legislative process by not allowing Senators to offer and 
     debate amendments;
       (5) the Social Security and Medicare Boards of Trustees 
     project that--
       (A) the Federal Hospital Insurance Trust Fund will be 
     depleted in 2028; and
       (B) the Federal Old-Age and Survivors Insurance Trust Fund 
     and the Federal Disability Insurance Trust Fund will be 
     depleted in 2034;
       (6) improvements in the business climate in populous 
     countries, and aging populations around the world, will 
     likely contribute to higher global interest rates;
       (7) more than $7,270,000,000,000 of Federal debt is owned 
     by individuals not located in the United States, including 
     more than $870,000,000,000 of which is owned by individuals 
     in China;
       (8) China and the European Union are developing alternative 
     payment systems to weaken the dominant position of the United 
     States dollar as a reserve currency;
       (9) rapidly increasing interest rates would squeeze all 
     policy priorities of the United

[[Page S2587]]

     States, including defense policy and foreign policy 
     priorities;
       (10) on April 12, 2018, former Secretary of Defense James 
     Mattis warned that ``any Nation that can't keep its fiscal 
     house in order eventually cannot maintain its military 
     power'';
       (11) on March 6, 2018, 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'';
       (12) on November 15, 2017, former Secretaries of Defense 
     Leon Panetta, Ash Carter, and Chuck Hagel warned: ``Increase 
     in the debt will, in the absence of a comprehensive budget 
     that addresses both entitlements and revenues, force even 
     deeper reductions in our national security capabilities''; 
     and
       (13) on September 22, 2011, former Chairman of the Joint 
     Chiefs of Staff Michael Mullen warned: ``I believe the 
     single, biggest threat to our national security is debt''.
                                 ______