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Committee member says rising federal debt and inflation threaten gains for people with disabilities
Summary
A committee member warned that high federal spending, rising national debt and inflation are jeopardizing recent employment gains for people with disabilities and older Americans, citing debt levels and projections and urging fiscal restraint.
A committee member warned the panel that rising federal spending, persistently high inflation and a growing national debt are threatening recent employment gains for people with disabilities and could squeeze benefits for older Americans.
The committee member framed the remarks around the economic well-being of seniors and people with disabilities, saying the groups “have the same hopes, dreams, and expectations of respect and dignity as all of us” and arguing that a strong economy does more for those populations than any federal program.
“Trillions in unnecessary spending still has inflation too high, up over 3% again from last year,” the committee member said, linking federal spending to recent price pressures. He added that “we've had 10 years of inflation crammed into the last 3 years,” and that higher interest rates have pushed mortgage rates above 7%, cooling the job market and contributing to a second straight monthly employment decline.
On the national debt, the committee member cited large figures to show the stakes. “Last month, the national debt rose to over 36,000,000,000,000,” he said, and warned that it is forecast to reach “56,000,000,000,000” in 10 years, a level he described as “over a $100,000 for every single person in The United States.”
The lawmaker argued the debt burden is bipartisan and said interest payments now exceed spending on national defense, a claim he used to call for fiscal restraint: “It's very easy. Just takes a little self discipline. All other parts of our economy have to live within that framework, local and state governments.”
The committee member emphasized the human impact: seniors and people with disabilities, he said, “feel the pinch at the grocery store when they look for a new home and when they need a job.” He concluded by urging the panel to keep “our reckless spending problem front of mind in this discussion here today,” and then yielded back to the chair.
No motions or votes are recorded in this excerpt of the hearing.
