Sept. 25, 2024, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement praising Sen. Rand Paul (R-Ky.) for fighting for the Six Penny Plan:
“Senator Rand Paul is one of the few Senators who are serious about the fiscal challenges facing America. Quite simply, the current rate of government spending is unsustainable with interest payments on the debt for the first ten months of fiscal year 2024 reaching a staggering $763 billion fully $202 billion more than the same period the previous year. Net interest payments on the debt surpass every other spending category other than Social Security. It is astonishing that the fiscal apocalypse that we have worried about for decades is now upon us with even defense spending dwarfed by the cost of simply making interest payments on our $35 trillion national debt.
“While we are disappointed that it did not pass, Senator Paul’s Six Penny Plan forced an honest discussion about the crisis our nation faces and some of the tough decisions which will be required to reverse course from the almost $2 Trillion in debt our country adds onto the ledger every single year. Higher interest rate payments on more of the debt combined with the spending spree which has raised the debt from $26.9 Trillion on September 30, 2020 to more than $35 Trillion. America is in trouble and Senator Paul is one of the few members of Congress willing to propose solutions.”
For media availability contact Americans for Limited Government at media@limitgov.org.
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