Rep. Bob Good, R-Va., warned House Republicans on Newsmax Friday that if they don't stand strong on cutting spending as deadlines loom on Jan. 19 and Feb. 2 for the federal budget, it could hamper the party in this year's general election.
"We cannot run [this] year on being a Congress that did not cut spending year over year and further exacerbated contributed this debt explosion," Good told "Rob Schmitt Tonight."
Data published Thursday by the Treasury Department showed the national debt topping $34 trillion for the first time.
"We're at historic debt — [an] unprecedented level of debt to [gross domestic product], highest we've seen since World War II — and we're not exactly defeating Nazi Germany and imperialist Japan," Good, a member of the House Budget Committee, said. "We have nothing to show for it except bankrupting our kids and our grandkids.
"We're running a monthly deficit of about $200 billion. The snowball effect of the debt increases like never before. It's going up. Every four or five months, we're going to add another trillion dollars to the debt at this level.
"The interest on the debt is approaching a trillion dollars on an annual basis. We're going to be at some $36 trillion in debt by the next election."
But not all Republicans in Congress are on board with cutting federal spending, especially those who voted for continuing resolutions to fund the government and the Fiscal Responsibility Act (FRA), which suspended the federal debt limit until Jan. 1, 2025.
"It really is discouraging, quite frankly, that there are so few members of Congress who truly do want to cut the debt. You can just look at the past two continued resolutions that were passed or the FRA, the failed responsibility act," Good said. "And you've got about 70 to 90 Republicans who will stand strong on not cutting or enforcing spending cuts, willing to do whatever it takes to cut our spending. That's our No. 1 responsibility as House members."
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Michael Katz ✉
Michael Katz is a Newsmax reporter with more than 30 years of experience reporting and editing on news, culture, and politics.
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