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Leading the Call from the State to Address the National Debt

As hard as the State of Indiana has worked to be financially responsible, we are vulnerable to our country’s rapidly dissolving fiscal position. As Chair of the National Debt Crisis Task Force for the State Financial Officers Foundation, Elise has built a coalition of 37 state financial officers from 27 states advocating for President Trump and Congress to restore America’s fiscal stability.

With the national debt at $36 trillion, every American carries $106,000 worth of national debt on their shoulders, and the annual interest payment of $1 trillion is greater than the yearly budget of the U.S. Military ($826B) and Medicare ($879B). After Medicare this payment is the fastest growing line item in the federal budget and will soon eclipse the annual cost of social security ($1.45T).

As U.S. Senate Resolution 600 and Indiana Senate Resolution 51 state, the national debt is a dire threat to our economy and national security.

Through both a letter they sent to President Trump and every Member of Congress, and through continued focused efforts, they are asking our national leaders to:
  • Spend less this year than last year
  • Create a path to a balanced budget as soon as possible
  • Unleash economic prosperity by cutting red tape, becoming energy-dominant, and instituting a plan to reduce the debt enabled by a growing economy
Of the $36 trillion of debt, $8 trillion of it is owned by those outside the U.S., including $1 trillion owned by China. As the United States prepares to celebrate 250 years of independence in July 2026, we must ensure that freedom and opportunity remain the birthright of every American.  To that end, Elise is leading her fellow state financial officers in declaring we must address the debt and secure our fiscal independence.
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