VIDEO: Peters Takes to Senate Floor to Speak Out Against National Debt Surpassing 39 Trillion Dollars

WASHINGTON, DC - U.S. Senator Gary Peters (MI) returned to the Senate floor to outline the consequences facing the United States economy if Congress fails to address the rapidly growing national debt. With the national debt recently eclipsing $39 trillion, Peters emphasized the impact that the United States' unsustainable fiscal trajectory will have on everyday Americans if we do not quickly change course. Peters' remarks on the Senate floor follow a series of speeches Peters has delivered urging his colleagues to join him in taking commonsense, bipartisan action to address the growing national debt.

"Our current fiscal policy is simply not sustainable, and without changes, we're headed toward economic catastrophe," said Senator Peters. "Failure to address the national debt would mean serious economic harm for Americans in the form of higher interest rates, less money to support critical federal services, and slowed economic growth."

To watch the full video of Peters' speech on the Senate floor, click here.

Peters cited similar warnings from the federal government's top, economic prognosticators including the Treasury Department and Congressional Budget Office.

"Our nation's leading economists are telling us point blank, we simply don't have time to waste," said Peters. "Dealing with our national debt is no longer a down the road problem or something that a future Congress will have to be dealing with."

Peters concluded the speech calling for bipartisan congressional action to address the national debt.

"That's why, just last month, I joined my colleagues in introducing a resolution that says by 2030 we must lower our deficit to only 3 percent of GDP. I'm also proud to lead bipartisan legislation in the Senate that would examine how our national debt impacts our national security," said Peters. "These efforts alone won't solve this problem, but we have to start somewhere. We must put forward bipartisan, responsible, and achievable solutions that allow us to make headway in any way that we possibly can."

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