Central Louisiana News

U.S. Senator Bill Cassidy has expressed concern over the national debt, urging Congress to take action against excessive spending. In an op-ed published in The Hill, Cassidy emphasized that interest payments now constitute 18 percent of federal spending, with $882 billion spent on interest surpassing the defense budget.

"Interest payments now consume 18 percent of federal spending. The $882 billion spent on interest exceeds the defense budget. Historian Niall Ferguson has called this a hallmark of national decline. By 2054, debt service will claim one-third of revenue, surpassing Social Security. If we don’t change course, Medicare, Social Security and debt service will eventually consume all federal revenue," wrote Dr. Cassidy.

Cassidy criticized the Biden administration for inflation and high-interest rates impacting working families. "During the Biden administration, inflation and high interest rates crushed working families. Most Americans don’t have lobbyists advocating for them. Instead, they elected President Trump and a Republican Congress to bring relief. That means staying committed to fiscal conservatism. Congress must listen and act," he stated.

Following his vote for a six-month funding bill aimed at reducing government spending, Cassidy argued for extending the Tax Cuts and Jobs Act while maintaining benefits and keeping taxes low.

"Republicans don’t want to take away benefits Americans rely on. We support lower taxes. We can extend the Tax Cuts and Jobs Act in a way maintains benefits, keeps taxes lower and keeps the American Dream alive. Let’s seize that opportunity," Dr. Cassidy concluded.

The senator pointed out competing priorities in Congress's reconciliation bill—making the 2017 Tax Cuts permanent versus reducing national debt projected to reach $65 trillion by 2034.

To address these issues, Cassidy stressed controlling expenditures and managing rising debt levels to avoid fueling inflation further.

President Trump's efforts to cut spending were acknowledged by Cassidy as understanding the need for creative revenue increases while balancing the budget.

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