Floydada-based All Ag News (KFLP-AM Radio) reports from the U.S. Capitol during the week of May 20, 2024 (Photo AllAgNews.com)
WASHINGTON, DC—The United States is deep in debt, and a Plainview High School graduate is devising a plan to fix it.
According to the U.S. Treasury, the current debt stands at $34.577 trillion, with the Debt to GDP (gross domestic product) now at the highest level ever.
“Comparing a country’s debt to its gross domestic product (GDP) reveals the country’s ability to pay down its debt,” explains the Treasury’s FiscalData website. “This ratio is considered a better indicator of a country’s fiscal situation than just the national debt number because it shows the burden of debt relative to the country’s total economic output and, therefore, its ability to repay it.”
Rep. Jodey Arrington (TX-19) is the Chairman of the House Budget Committee and explains that his team is closing in on solutions.
He grew up in Plainview, and as a leader in Congress, Arrington is attempting to steer the country’s spending through waves of challenges.
Arrington joins Tony St. James of All Ag News from the Capitol in this exclusive conversation.
