WASHINGTON – On Wednesday, U.S. Rep. Randy Feenstra, R-Iowa, warned his colleagues on the House Budget Committee that abolishing the debt limit would devastate the American economy, force small businesses to close, put Americans out of work, and green light trillions of dollars in wasteful, debt-financed spending.
The committee held a two-and-a-half hour long hearing on this issue.
“The federal government must be held accountable to We The People. There is only so much that Iowa families and businesses can spend without breaking the bank, but Democrats firmly believe these rules shouldn’t apply to Congress,” Feenstra said. “We have $30 trillion in debt, we’re facing the highest inflation we’ve seen in 40 years, and we have no clue how many billions of dollars in inflationary COVID relief money is sitting unspent. It’s absolutely shameful and Congress needs to show leadership on this pressing matter.”
“Our businesses and families follow a strict budget, and I think Congress should, too,” he added in a released statement.
Feenstra says he has made it one of his top priorities to rein in wasteful spending and demand that the federal government adopt a balanced budget amendment like the 99 percent spending cap enacted in Iowa.
Watch his full remarks above.