(DailyVantage.com) – Kansas Republican Senator Roger Marshall warned Americans in a speech that the US national debt was of far greater threat to the long-term stability of the country than Russia, China, or Iran.
During a March 15 Senate hearing on President Joe Biden’s nearly $7 trillion budget proposal for 2024, Marshall said he was often asked by constituents what the greatest threat to American prosperity was.
Marshall replied that it was not Russia, China, North Korea, or Iran, and neither was it climate change — despite professing a love for the environment. “The greatest long term threat the United States faces is our national debt,” the senator warned, noting that the national debt was currently at more than $31 trillion and constantly growing, with the country forking out nearly $500 billion in 2022 just in interest.
Arguing that the current levels of debt were unsustainable, Marshall accused Democrat administrations in recent decades of maxing out America’s “credit cards” and leaving the country in a worse position for future generations.
He also expressed his concern that the Biden administration was using similar “voodoo” accounting to what led to the recent collapse of Silicon Valley Bank, which was seized by the FDIC after becoming the second worst bank failure in American history.
Utah Republican Senator Mike Lee also criticized the Biden administration’s budget proposal and accused the White House and Democrats in the House and Senate of lacking fiscal responsibility.
The Biden administration’s 2024 budget proposal includes a proposed $842 billion for the Department of Defense — $26 billion more than the budget for the 2023 financial year and a whopping $100 billion more than the budget for 2022 financial year.
In a statement, US Secretary of Defense Lloyd Austin said the proposed $842 billion would be used to counter an alleged growing threat from the People’s Republic of China, which he singled out as the nation’s priority. Austin also indicated that countering the threat of Russia in Europe was the United States’ second most important priority.
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