US National Debt Skyrockets by $98 Billion in January Amid Growing Concerns of Approaching Crisis

Senators from both political parties in the United States are concerned that the country's economic challenges are making it increasingly difficult for younger generations to achieve the American Dream.

In an op-ed published on The Hill, Senators Mitt Romney (R-Utah) and Joe Manchin (D-W.Va.) as well as Representatives Bill Huizenga (R-Mich.) and Scott Peters (D-Calif.) expressed their concern about the rapidly increasing US national debt, stating that it is growing at an unsustainable pace.

The op-ed coincides with recent government data revealing that the national debt has risen from $33.990 trillion at the beginning of January to $34.072 trillion, indicating an increase of $82 billion.

“The national debt is the greatest threat our country faces – and we are rapidly approaching the crisis point. We were elected to lead, and that involves making sacrifices and tough decisions.

There is growing appetite on both sides of the aisle to address our national debt. It is time for Congress to put the interests of the country ahead of political expediency and get us on sound fiscal footing before it is too late.”

These officials are advocating for the establishment of a government body that would focus on addressing and monitoring the fiscal situation of the United States. They believe that this idea presents the most realistic and immediate opportunity for the country to tackle the crisis and safeguard the interests of senior citizens.

“Those who claim a fiscal commission is simply a Trojan horse for cuts to Social Security and Medicare are engaging in fearmongering. What will jeopardize these benefits is inaction — keeping the status quo. Social Security will become insolvent in less than 10 years, which would result in an automatic cut in benefits by 24 percent. That is unacceptable.

Those who propose doing nothing are effectively paving the road to bankruptcy of Social Security and Medicare. Congress needs to find solutions that preserve these essential programs for Americans who today are in their 20s, 30s and 40s.”