Rep Thomas Massie WARNS America of ‘Ticking Debt Bomb’ As Congress Debates Massive Spending Bill

Oneindia

In a stark address to Congress, Rep. Thomas Massie sounded the alarm over America’s growing national debt, calling a proposed spending measure the “Big Beautiful Bill” — a ticking time bomb. Rejecting the usual promises of tax cuts and increased spending, Massie delivered what he called a “dose of reality” about the nation’s fiscal future. As lawmakers push forward with ambitious budget plans, Massie’s warning highlights growing concerns among fiscal conservatives about America’s long-term economic stability and the burden of unsustainable government spending.    #ThomasMassie #DebtBomb #USDebtCrisis #FederalSpending #Congress #BigBeautifulBill #BudgetBattle #FiscalConservatives #NationalDebt #SpendingBill #USPolitics #HouseOfRepresentatives #RealityCheck #TaxCuts #GovernmentSpending #DebtWarning #EconomicStability #BudgetDeficit #AmericanEconomy #MassieSpeech  Also Read  Hidden Diplomacy? Congress Must Explain 2008 Gandhi-Bhutto Meet in Beijing :: https://www.oneindia.com/india/congress-under-fire-over-secret-2008-beijing-meet-amid-india-pakistan-tensions-4160529.html?ref=DMDesc  Congress Slams Centre After Trump Reiterates India-Pakistan Ceasefire Claims: 'Why This Thundering Silence?' :: https://www.oneindia.com/india/congress-slams-centre-after-trump-reiterates-india-pakistan-ceasefire-claims-why-this-thundering-s-4160453.html?ref=DMDesc  BJP, Congress Engage In Rahul-Munir Vs Modi-Sharif Poster War As Both Parties Accuse Each Other Of Pak Links :: https://www.oneindia.com/india/bjp-congress-engage-in-rahul-munir-modi-sharif-poster-war-as-both-parties-accuse-each-other-of-pak-4159287.html?ref=DMDesc    ~HT.410~ED.420~GR.124~

Transcript

00:00The gentleman from Kentucky is recognized for 90 seconds.

00:04Well, I'd love to stand here and tell the American people,

00:07we can cut your taxes and we can increase spending

00:10and everything's going to be just fine.

00:12But I can't do that because I'm here to deliver a dose of reality.

00:16This bill dramatically increases deficits in the near term,

00:20but promises our government will be fiscally responsible five years from now.

00:24Where have we heard that before?

00:26How do you bind a future Congress to these promises?

00:30This bill is a debt bomb ticking.

00:32Congress can do funny math, fantasy math, if it wants,

00:37but bond investors don't.

00:39And this week they sent us a message.

00:41Moody's downgraded our credit rating

00:43and the bond investors who buy our debt and finance our debt

00:47demanded higher interest rates on the 10-year note,

00:50the 20-year note, and the 30-year note.

00:53What does this mean?

00:54Very soon the government will be paying $16,000 of interest,

00:58interest alone per U.S. family.

01:01And what are we telling them?

01:03Instead of taking care of that problem,

01:05we're going to give you a $1,600 tax break.

01:09Under the taxing and spending levels in this bill,

01:12we're going to rack up, the authors say,

01:15$20 trillion of new debt over the next 10 years.

01:18I'm telling you it's closer to $30 trillion of new debt

01:21in the next 10 years.

01:23Mr. Speaker, we're not rearranging deck chairs

01:26on the Titanic tonight.

01:28We're putting coal in the boiler

01:30and setting a course for the iceberg.

01:33If something is...

01:34If something is beautiful,

01:38if something is beautiful,

01:40you don't do it after midnight.

01:41I oppose this bill, and I yield back.

01:43The gentleman's time has expired.

01:45The gentleman from Kentucky

01:46is recognized for 90 seconds.

01:49Well, I'd love to stand here

01:51and tell the American people,

01:52we can cut your taxes

01:53and we can increase spending

01:55and everything's going to be just fine.

01:57But I can't do that

01:58because I'm here to deliver a dose of reality.

02:01This bill dramatically increases deficits

02:04in the near term,

02:05but promises our government

02:07will be fiscally responsible five years from now.

02:09Where have we heard that before?

02:12How do you bind a future Congress

02:13to these promises?

02:15This bill is a debt bomb ticking.

02:17Congress can do funny math,

02:20fantasy math, if it wants,

02:22but bond investors don't.

02:24And this week, they sent us a message.

02:26Moody's downgraded our credit rating

02:28and the bond investors who buy our debt

02:31and finance our debt

02:32demanded higher interest rates

02:34on the 10-year note,

02:36the 20-year note,

02:37and the 30-year note.

02:38What does this mean?

02:39Very soon, the government

02:41will be paying $16,000 of interest,

02:44interest alone per U.S. family.

02:47And what are we telling them?

02:48Instead of taking care of that problem,

02:50we're going to give you a $1,600 tax break.

02:55Under the taxing and spending levels in this bill,

02:58we're going to rack up,

02:59the authors say,

03:00$20 trillion of new debt

03:02over the next 10 years.

03:04I'm telling you,

03:04it's closer to $30 trillion of new debt

03:06in the next 10 years.

03:08Mr. Speaker,

03:09we're not rearranging deck chairs

03:11on the Titanic tonight.

03:13We're putting coal in the boiler

03:15and setting a course for the iceberg.

03:18If something is...

03:20If something is beautiful,

03:23if something is beautiful,

03:25you don't do it after midnight.

03:27I oppose this bill.

03:28The government's time has expired.

03:31General...

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