NW Ohio Times

State Representatives David Thomas (R-Jefferson) and Roy Klopfenstein (R-Haviland) have introduced House Concurrent Resolution 24 in the Ohio House of Representatives. The resolution calls on Congress to take action regarding the national debt, which has now exceeded $37 trillion, a figure that represents more than 123% of the country's economic output. According to the resolution, this equates to approximately $108,000 for each Ohio resident. It also notes that over $8 trillion of the debt is held by foreign investors, with China holding more than $800 billion.

“Responsible spending doesn’t burden our children and grandchildren with insurmountable debt. It is vital that we draw attention to this issue and urge immediate federal action because every delay deepens the debt and indentures the future for the next generation,” said Rep. Klopfenstein.

The resolution points out several issues related to federal finances. In 2024, government spending surpassed revenue by more than $1 trillion. Programs such as Social Security and Medicare are expected to face funding shortfalls within ten years if no changes are made. The resolution also notes that interest payments on the national debt now exceed spending on the entire U.S. defense budget, raising concerns about long-term national security.

Representative Thomas stated, “At some point, it will become a state issue with impacts on our national security and ability to operate services and now is past the time to take steps to help.”

“It is my hope that our congressional leaders in Ohio can use this resolution as an example for the need and backing to carry out reforms at the federal level to lower the debt,” said Rep. Thomas.

Both representatives emphasized their intent for Ohio to send a clear message urging Congress to return to responsible budgeting practices.

The resolution has been sent to the House Government Oversight Committee and is awaiting its first hearing.