Senator David Perdue Talks Debt & Funding Crisis With Americans For Prosperity
“We can deal with this debt, but first, everybody in America has to realize we’re in a crisis right here and right now.”
WASHINGTON, D.C. – U.S. Senator David Perdue (R-GA), a member of the Senate Budget Committee, joined a discussion with Americans for Prosperity on federal spending and the national debt crisis. Senator Perdue has worked to tackle our nation’s debt since he first came to the Senate and believes America is past the tipping point of the crisis.
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Business Perspective: “There’s a growing awareness of the national debt around the country. You saw it in presidential politics in 2016, and you’ll see it again in 2020. You certainly saw it in my race in 2014. I never wanted to be in politics, but after my business career, the debt crisis is what pulled me in. There are things that we can do to deal with this debt, but first, everybody in America has to realize we’re in a crisis right here and right now.”
$100,000 A Second: “We have $22 trillion in debt, and it is going up about $100,000 every second. Within a decade, we will add another $10 trillion to the debt no matter what happens because of Social Security and Medicare. Over the next 30 years, the debt will go up another $130 trillion because of these future unfunded liabilities we’ve already committed to. What we have is a situation that is spiraling out of control, and the only way I know how to fix it is to break it down into pieces and start looking for solutions.”
Five Solutions For Debt Crisis: “If you want to solve this debt crisis, you have got to grow the economy, which we are doing right now. You also have to fix the broken budget process, get rid of redundant spending – both discretionary and mandatory – and save Social Security and Medicare. Lastly, we have wasted a decade talking about health insurance when we should have been talking about healthcare cost.”
Funding Process Is Broken: “In 2015 when I got elected, we formed a bipartisan working group in the Senate to investigate and change this funding process. This funding process has only worked four times in 45 years. Congress has used 186 continuing resolutions, and the government has actually been shut down by Congress 21 times in those 45 years. Only four times in 45 years has the government been fully-funded by the end of the fiscal year, September 30.”
Bigger Than Wal-Mart: “Under President Trump we have the first ever audit of the Department of Defense (DoD). In a Budget Committee hearing a while back, I asked an inspector general why the DoD isn’t audited. He said ‘oh sir, we’re too large and complex for an audit.’ The DoD is a little bit bigger than Wal-Mart…Can you imagine Wal-Mart not doing an SEC filing or their IRS paperwork? I told President Trump about this, and almost one year to the day he was elected, we got a DoD audit.”
Recognize We’re In A Crisis: “There’s a growing nucleus of people in the U.S. Senate who agree our national debt is a crisis, and we have to do something about it. Americans have always been the best in the world at dealing with a crisis. We’re just always the slowest to figure out we’re in a crisis.”
When Senator Perdue was elected, he was the only Fortune 500 CEO in Congress. He is serving his first term in the United States Senate, where he represents Georgia on the Armed Services, Banking, Budget, and Agriculture Committees.
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