Sunshine Sentinel

Sen. Rick Scott (R-FL) introduced the Federal Debt Emergency Control Act on June 9 as a way to hold the Office of Management and Budget accountable for gross domestic product spending. 

The current United States GDP to debt ratio is over 127% and will likely rise if another one of the Biden Administration’s spending plans like an infrastructure bill is passed.

“My goal is between now and the end of July, get everyone to focus on the debt ceiling," Scott said to the Tampa Bay Times, in regard to the upcoming midterm elections. 

The bill would require the Office of Management and Budget to report a "federal debt emergency" when the nation's debt exceeds 100% of the GDP, according to Scott's website. 

“America is in a debt crisis," Scott said in a statement, encouraging Congress to pass the bill. "Our nation is barreling toward $30 trillion in debt – an unimaginable $233,000 in debt for every family in America. It’s a crisis caused by decades of wasteful and reckless spending by Washington politicians. Now, President Biden is continuing this way of governing by pushing for trillions in wasteful spending, raising the U.S. federal debt by 60% to $39 trillion and the debt-to-GDP ratio to 117% in 2030, the highest level ever recorded in American history. Spending beyond our means has consequences. We’re already seeing rising inflation, which disproportionately hurts the poorest families, like mine growing up."

The bill also states that the emergency designation would trigger measures to control the debt, including requiring a two-thirds vote to pass legislation that increases the federal debt without offsets. The emergency would also fast-track legislation that decreases the federal debt by at least 5% over the following ten years.

Going into 2022, Scott leads GOP fundraising and messaging for competitive U.S. Senate races around the country.