Congressman warns national debt could reach $30 trillion by end of September
Listen to John Solomon's interview with the chairman of the House Freedom Caucus
Rep. Andy Biggs, an Arizona Republican and chairman of the conservative House Freedom Caucus, is expressing concern about the rapidly rising U.S. national debt.
Biggs told Just the News said that the trillions of dollars in coronavirus aid piled on the structural deficit for this fiscal year combined with the likelihood of even more spending in the coming months will bring the national debt to somewhere between $28 trillion to $30 trillion by the end of September.
Biggs described this as grossly "irresponsible" and said "we've just encumbered the next generation or two" noting that the ballooning debt comes as the the GDP fell nearly five percent during the first quarter of the year.
He anticipates that the nation will make significant progress toward resuming more regular activity in the coming months and said that by July the nation may reach about the 70 percent mark.
The congressman, a member of President Trump's Open Up America Again Congressional Group, mentioned a number of ideas to help restart the nation's economy, some of which include tax rate cuts and lessening regulations.
He called for liability protection, a provision that Senate Majority Leader Mitch McConnell (R-Kentucky) has publicly stated is a must-have in order for any upcoming coronavirus relief legislation to pass in the Senate.
During the interview, Biggs also discussed the issue of contact tracing, where teams try to identify every person a virus patient came in contact with and then impose quarantines to avoid the disease spreading.
"You have got to narrow it so closely if you're going to have any contact tracing," Biggs said, noting that "contact tracing is already being hailed by the left as something that should be broadly implemented. And I think it's something we all be scrutinizing and very dubious about," he said.