WASHINGTON, DC — U.S. Senator Gary Peters (MI) took to the Senate floor again today to highlight the United States’ growing national debt, which recently eclipsed $38 trillion for the first time in U.S. history, and its impacts on everyday Americans. The speech comes after Peters also spoke on the Senate floor about addressing the national debt in July and September.
“The national debt is a real-life burden that our country has to contend with, and ultimately, the brunt of that burden falls hardest on the people who are just fighting to make ends meet in this increasingly unaffordable economy,” said Senator Peters. “Because our debt has gotten so out of control, each year, Congress is having to use more and more of everyday tax dollars to pay down just the interest on our debt…. That means less of your tax dollars are being sent back into your community to invest in stronger roads, safer neighborhoods, and better schools. It means there’s less resources available for programs that help Americans put food on the table, afford childcare, or gain new skills through workforce training initiatives.”
To watch the full video of Peters’ speech on the Senate floor, click here.
Peters also highlighted how the so-called “Big Beautiful Bill” that Republicans passed into law this summer skyrocketed the national debt by giving massive tax cuts to the wealthiest Americans, while cutting health care and food assistance for hardworking Americans.
“Instead of paying their fair share like most Americans, Republicans just wrote President Trump and the richest Americans a more favorable tax code, making sure they get to hold onto their wealth and watch it grow,” said Peters. “And when the richest Americans still do not succeed, they are given the leeway to bail themselves out. As a result, our federal deficits grow, inflation remains high, and the American people are left with nothing but rising prices, stagnant wages, and the bitter, bitter feeling of being left behind.”
Peters concluded the speech calling for bipartisan Congressional action to address the issue.
“We can’t just make this debt go away. Lawmakers are going to have to put politics aside and come together to figure out a way to address this issue,” said Peters. “So, in 2026, I’m going to keep sounding the alarm on our national debt, highlighting the everyday consequences and delving into ways that we can finally take steps to put our country on more sound financial footing.”
Peters concluded, “We all say that we care about addressing our growing debt. Everyone here in this chamber says it. But in 2026, let’s put our money where our mouth is and let’s make it happen.”
