When I arrived in Congress in 2011, America’s debt and deficit was THE major topic of discussion. Our nation’s total debt was $14.7 trillion and 96% of GDP. Soon it will hit and surpass $39 trillion and 124% of GDP. Within 10 years it will almost certainly exceed $60 trillion.

When I entered Congress, although both sides claim to be concerned about our dire fiscal situation, neither side has demonstrated a genuine desire to seriously address it. Now, $24 trillion in added debt later, it’s barely mentioned, and most members of congress, the administration, and the public seem content to continue whistling past the graveyard.

On March 11, I held my first hearing as chairman of the Subcommittee on Fiscal Responsibility and Economic Growth.

We need to take a green-eyeshade, accountant’s approach to discipline government spending and return it to a reasonable pre-pandemic level. Neither Republicans nor Democrats have been genuinely serious about addressing this problem. I’m dead serious about it.

I want to thank our witnesses for their testimony that describes our growing fiscal situation in all its gory detail. The first step in solving a problem is admitting we have one.

If we ever are willing to collectively take that first step, the next step is property defining it. A financial problem lends itself to charts and graphs. The written testimony is chalked full of some very good ones that I highly recommend people study.

Learn More

• Here are a few charts I have developed over the years that help describe the challenges we face.
• X Post: Witness Maya MacGuineas explains, right now we spend $6 on seniors for every $1 on kids under 18. When Social Security began, seniors were the poorest — today children are. To add insult to injury, we have mortgaged their future with $39 trillion in debt and growing. It is immoral what we are doing to our children and grandchildren.

As @MayaMacGuineas explains, right now we spend $6 on seniors for every $1 on kids under 18. When Social Security began, seniors were the poorest — today children are.

To add insult to injury, we have mortgaged their future with $39 trillion in debt and growing. It is immoral… pic.twitter.com/MjkK87lyXZ

— Senator Ron Johnson (@SenRonJohnson) March 11, 2026