Sen. Mike Lee says the growing national debt poses an existential danger to the country unless Congress acts soon.
Lee appeared on Fox News Wednesday evening where he delivered a very stark warning.
“We are playing with fire. This is a ticking time bomb. Over time it will harm us,” he said. “We should start right now by enacting some type of permanent structural spending reform that would be difficult for Congress to circumvent.”
Lee has proposed a balanced budget amendment that would require a supermajority vote in Congress in order to raise taxes or spend more than 18% of the GDP.
Congress has until late September or early October to pass a funding deal to avoid a government shutdown. They also have to raise the debt limit to prevent a possible default which could have a catastrophic effect on the global economy.
“Those of us in the Senate and House have an obligation to look long-term and beyond party politics to solve this problem,” he said.