National Debt Surpasses Economy Size: Republican Leader Urges for Budgetary Reforms

House speaker Kevin McCarthy discusses his upcoming meeting with President Biden regarding the U.S.’s massive debt on ‘The Bottom Line.’


In a recent video, Republican leader Kevin McCarthy highlighted the growing concern of the country’s debt crisis. He stated that the national debt has now surpassed the size of the entire economy, a situation that has not been seen since World War II. This news is alarming as it means that the country is borrowing more money than it is producing, which could have severe long-term consequences.

McCarthy stated that this debt crisis is a result of years of overspending and poor fiscal policies. He added that both parties are responsible for the current state of affairs, but that it is time for leaders to come together to find a solution. He emphasized the need for responsible budgeting, highlighting the importance of cutting unnecessary spending and finding ways to increase revenue.

McCarthy also stressed the importance of ensuring that future generations are not left with a legacy of debt. He emphasized the need for a balanced budget amendment to the Constitution, which would limit the amount of debt the government can accumulate. This would help to prevent the country from slipping further into debt, and ensure that future generations are not burdened with paying off the debt of their predecessors.

Kevin McCarthy’s interview highlights the growing concern over the country’s debt crisis, and the need for leaders to work together to find a solution. It is clear that the country is facing a debt crisis of historic proportions, and that action must be taken to ensure that future generations are not left with a legacy of debt.


FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York – the business capital of the world – FBN launched in October 2007 and is one of the leading business networks on television, having topped CNBC in Business Day viewers for the second consecutive year in 2018. The network is available in nearly 80 million homes in all markets across the United States. Owned by FOX Corporation, FBN is a unit of FOX News Media and has bureaus in Chicago, Los Angeles, and Washington, D.C.

You May Also Like

About the Author: Lauren Dillon

Lauren Dillon is a crypto-journalist with years of experience covering the industry. She has a deep passion for spreading awareness about the potential of blockchain technology and its potential to improve the world. She holds a degree in business information technology and decades of experience in marketing software and consulting services.

Leave a Reply

Your email address will not be published. Required fields are marked *