The 136th General Assembly of Ohio has adopted a concurrent resolution expressing concern over the national debt, which has surpassed $37 trillion, representing 123% of the gross domestic product. The resolution highlights the significant implications of this debt on national security, citing warnings from former military and intelligence leaders about the unsustainable nature of the debt and its potential to undermine the United States' ability to defend its interests. It notes that a substantial portion of the debt is held by foreign entities, including over $800 billion by individuals in China, and emphasizes the urgent need for Congress to establish a more effective budgeting process to address the growing deficit.
The resolution calls on the United States Congress to recognize the national debt as a critical threat to national security and to take action to implement a regular order for budgeting. It also points out the alarming projections regarding the depletion of key trust funds for Social Security and Medicare, as well as the increasing burden of interest payments on the national debt, which now exceeds total defense spending. The resolution concludes with a directive for the Clerk of the House to send copies of the resolution to Ohio's Congressional delegation and local media outlets.