Today, Congressman Michael Guest (MS-03) reaffirmed his commitment to fiscal responsibility while acknowledging the need for additional COVID-19 relief funds by cosponsoring a resolution “expressing the sense of the House of Representatives on addressing the reckless and unsustainable national debt while committing necessary resources to the COVID-19 pandemic.”
“The source of American resiliency has always been our nation’s adherence to our core values. Fiscal conservatism combined with common-sense legislation allows our economy to rebound while preparing our nation for future needs,” Guest said. “Unfortunately, we have become increasingly reliant on deficit spending in recent years, and, with the ongoing battle against the coronavirus, this has led our country down the path towards worrying levels of national debt. Once the coronavirus is defeated, Congress will need to make necessary reductions to our spending, which will allow the U.S. government to return to a state of fiscal security and preparedness.”
The resolution recognizes the importance of Congress’s efforts to mitigate the impact of the virus but follows this recognition with concerning statistics. America’s deficit widened from 4.6 percent of our GDP in 2019 to 16 percent of our GDP in 2020, and the FY20 budget deficit has grown by a factor of three above 2020 projections. This resolution also comes at a critical moment as the United States government’s gross national debt has soared above $27 trillion.
The resolution outlines four provisions to fuel America’s fight against the coronavirus while adhering to the promise of fiscal responsibility. The legislation resolves that the House of Representatives:
- “recognizes that an unprecedented response to provide relief to hundreds of millions of Americans was required to address the COVID–19 pandemic;
- realizes that additional relief measures are required;
- believes that further efforts to address the COVID–19 pandemic must include measures and reforms to help Congress restore the Federal Government’s long-term fiscal health once the pandemic ends and the economy regains its strength; and
- believes Congress should promote the return to regular order and deliberation, and to change the broken and dysfunctional budget practices that threaten both economic stability and national security.”
The resolution is led by Reps. Jodey Arrington (R-TX) and Scott Peters (D-CA).
Press Release
12/21/2020
Magnolia Tribune
