Kevin McCarthy Warns of Fiscal Danger: ‘Debt is America’s Greatest Threat’

On The Ingraham Angle, former House Speaker Kevin McCarthy delivered a stark warning about America’s growing debt crisis. He described the rising national debt as “the greatest threat we have before us.” McCarthy criticized Congress’s end-of-year spending habits and called for reforms to restore fiscal discipline and transparency.

A Call for Accountability

McCarthy pointed out that the United States now spends over $1 trillion annually on interest payments, exceeding the defense budget for the first time. He emphasized that such financial recklessness jeopardizes the country’s stability and weakens the ability of a new administration to govern effectively. “Every great society that’s overextended itself has collapsed,” McCarthy warned.

Congress’s reliance on last-minute spending bills drew sharp criticism from McCarthy. He argued that these bloated bills are intentionally rushed to avoid scrutiny, making it easy for lawmakers to include unnecessary expenditures. “This is filled with pork. There’s money in here that nobody knows what it is,” he said. McCarthy proposed a streamlined process where spending recommendations are voted on directly without amendments. “Vote it up or down,” he suggested, asserting that such an approach would improve accountability and reduce waste.

McCarthy also criticized President Biden for hypocrisy. While Biden recently called for banning stock trading by members of Congress, McCarthy pointed out that his family has financially benefited from political connections. “His son can serve on the Burisma board while he’s vice president in charge of Ukraine,” McCarthy noted. He also condemned Biden for pardoning his son’s gun-related charges while pushing for stricter gun control laws.

A Path Forward

To restore fiscal discipline, McCarthy urged lawmakers to tackle funding bills early in the legislative calendar. “We’ve got to stop this spending-palooza,” he stated. Addressing these issues before the year-end rush would reduce unnecessary expenditures and improve the efficiency of government operations.

McCarthy outlined a vision for reform, advocating for transparent spending practices and bipartisan cooperation. He called for leaders willing to make tough decisions to secure the nation’s financial future. “We need leaders willing to make tough choices,” he said, emphasizing the importance of confronting these challenges head-on.

By reducing wasteful spending and prioritizing accountability, Congress can address the growing debt crisis and ensure a stable future for American families. McCarthy’s call to action underscores the urgency of fiscal reform in Washington.