Bowling Green Today

Last night, U.S. Senator Rand Paul (R-KY) pushed for a Senate vote on his conservative amendment to the U.S. House of Representatives' short-term spending bill. The amendment aimed to save American taxpayers a staggering $50 billion over a period of ten weeks. The proposed cut, which accounts for one percent of total federal spending, would exclude vital areas such as Social Security, Medicare, the Department of Defense, Military Construction, and the Department of Veterans Affairs. Additionally, it would rescind $30 billion from the funds originally allocated to the Internal Revenue Service (IRS).

The amendment garnered support from 32 Senate Republicans, underlining the recognition of the need for fiscal responsibility. Dr. Paul emphasized the urgency of this measure and the long-term consequences of excessive spending, stating, "To continue spending money at the current levels will inevitably lead to the bankruptcy of our great nation." He further explained that his proposed amendment would help put the country on the path towards fiscal responsibility and prevent a dire fiscal outcome.

Dr. Paul highlighted the alarming rate at which the national debt is growing. In June of the current year, the national debt exceeded $32 trillion, and by September, it surpassed $33 trillion. He pointed out that Congress added a trillion dollars in debt within 90 short days, emphasizing the urgency of the situation. The Congressional Budget Office predicts that the U.S. government will accumulate an average of $2 trillion in debt annually for the next decade. This means that the country will accumulate over $5 billion in debt every day for ten years. The magnitude of borrowing is staggering, with the U.S. borrowing over $176 million every hour, $3 million every minute, and $50,000 every second.

Dr. Paul warned of the consequences of such reckless borrowing and spending, stressing that it is unsustainable. He stated, "The ever-increasing heights of our debt mean a weak economy, high inflation, and confiscatory tax rates. In other words, today's spending threatens tomorrow's prosperity." It is only a matter of time before the world recognizes the severity of this debt and refuses to buy it.

The conservative amendment proposed by Dr. Rand Paul serves as a crucial step towards addressing the mounting national debt and ensuring fiscal responsibility. The support it garnered from Senate Republicans indicates a growing concern for the nation's financial future. As the debate over spending continues, it is clear that immediate action is necessary to prevent the bankruptcy of the nation.

For more information on Dr. Rand Paul's amendment and his floor remarks, please visit the Senator Rand Paul's official website.

To learn more, click on this link: https://www.paul.senate.gov/icymi-dr-rand-paul-forces-senate-vote-on-conservative-amendment-saving-taxpayers-billions/