With the United States now over $30 trillion in debt, Kansas Congressman Jake LaTurner says Republicans in the US House of Representatives have passed a solid plan for bringing some fiscal restraint to Washington.
LaTurner appeared on KVOE’s Newsmaker segment Friday, saying it’s now time for the Senate and the White House to make their own moves. The plan passed in the House is unlikely to move through the Senate, and President Joe Biden wants an increase in the debt ceiling with no spending concessions.
Now at $31.4 trillion, the debt ceiling is considered important because it causes the government to default on its legal and financial obligations unless it’s reset, almost invariably by raising it. Such a default has never happened in US history. Credit rating downgrades are possible if the US hits the debt ceiling, which would lead to increased borrowing costs — both for residents and businesses — and possibly lead to weaker consumer confidence.
Separately, LaTurner is encouraging residents to attend a special career fair Wednesday at the Stormont-Vail Events Center in Topeka. Over 40 businesses are expected to be in attendance.
