Tennessee Senator Marsha Blackburn Joins Colleagues in Re-Introducing Bill that Addresses Federal Debt Crisis

Tennessee Senator Marsha Blackburn (R-TN) joined a group of Republican colleagues this week in re-introducing the Full Faith and Credit Act. The bill is led by Florida Senator Rick Scott (R-FL).

Since the Treasury refuses to do what it can & must, it's time to pass the Full Faith & Credit Act, which requires the government to fulfill critical payments to the debt to avoid default while Dems refuse to take accountability for wasteful spending. https://t.co/K5ya7hZ9SU

— Rick Scott (@SenRickScott) January 25, 2023

If enacted, the bill, S.82, would “protect social security benefits and military pay and require that the United States Government prioritize all obligations on the debt held by the public in the event that the debt limit is reached.”

The nation’s general-fund debt has reached $31 trillion, more than its economic output. The government’s repeated decision to spend more than it receives has intensified inflation, resulting in higher consumer prices.

Joe Biden seems to think it’s a good idea to continue running up the national debt. pic.twitter.com/TnsyH4LRdw

— Sen. Marsha Blackburn (@MarshaBlackburn) February 6, 2023

To ensure the national debt does not threaten future generations, Republican lawmakers have called on the Biden administration to find a compromise on the debt ceiling that cuts federal spending and helps the government move toward a balanced budget.

The Joint Economic Committee of Congress estimates that inflation costs Tennessee families $629 more per month in late 2022 than the year prior. To this, Blackburn stated that the Full Faith and Credit Act would “directly protect Tennessee,” which, as she added, is “home to Fort Campbell, Millington Naval Base, Arnold Air Force Base, and the Tennessee National Guard, as well as over 400,000 veterans.”

Among additional actions, if the federal debt reaches the debt ceiling, the legislation would require the following to take priority over all other federally incurred obligations:

• The Department of the Treasury to pay the principal and interest on debt held by the public;
• Social Security payments toward monthly Old Age, Survivors and Disability Insurance benefits under title II of the Social Security Act;
• Pay and allowances for members of the Armed Forces on active duty and the United States Coast Guard;
• Payment of compensation and pensions and medical services provided by the United States Department of Veterans Affairs; and Medicare programs.

“The federal government has an increasing appetite for the taxpayer’s hard-earned dollar. We are overtaxed, and the federal bureaucracy is overspent,” Senator Blackburn said in a statement. “With the U.S. debt now over $31 trillion and soaring inflation, we simply cannot continue down this path toward economic destruction. This bill is a critical step toward helping Washington get its spending priorities in order and economically plan for the future — just like every family in America does.”

The bill is endorsed by Club for Growth, Americans for Prosperity, and FreedomWorks.

Blackburn, who was recently appointed to serve on the U.S. Senate Finance Committee, has positioned herself to play a major role in this year’s fight over raising the debt ceiling.

Last week, as reported by The Tennessee Star, Blackburn penned a letter with her fellow senators to President Joe Biden, insisting a rise in the federal debt limit must only happen as part of a deal to pare back government spending.

Raising the federal debt ceiling should only take place if we reduce government spending.

We owe it to our kids and our grandkids to make certain that we get this federal spending under control. https://t.co/56ihp8TOla

— Sen. Marsha Blackburn (@MarshaBlackburn) February 5, 2023

– – –

Kaitlin Housler is a reporter at The Tennessee Star and The Star News Network.
Photo “Marsha Blackburn” by Sen. Marsha Blackburn. Background Photo “U.S. Capitol” by Thomas Lin.