Sen. Romney: $28.4 Trillion Debt Is Too Much, Must Ensure Entitlement Programs Are Funded

By Ashlianna Kreiner | August 13, 2021 | 10:51am EDT
Sen. Mitt Romney (R-Utah)   (Getty Images)
Sen. Mitt Romney (R-Utah) (Getty Images)

(CNS News) – When asked if the $28.4 trillion federal debt was too much, Senator Mitt Romney (R-Utah) said, “It sure is.” He added that Congress must find ways to properly fund entitlement programs, such as Social Security, which are in financial straits.

At the U.S. Capitol on Tuesday, CNS News asked the senator, “The debt of the federal government is now $28.4 trillion. Is that too much?”

Sen. Romney said: “It sure is.”

CNS News asked the follow-up question, “Is there any federal program or agency that you would eliminate to reduce the federal spending?”

The senator responded, “Well, I would look to find ways to get our entitlement programs on a sustainable path because they’re destined, within the next few years, to become bankrupt, [and] that would be unacceptable. We can’t cut benefits to people who rely on those programs.”

According to the U.S. Treasury Department, the total public debt outstanding as of Aug. 9, 2021, was $28,427,651,083,061.54, or roughly $28.4 trillion.

The federal debt did not surpass $1 trillion until fiscal 1982. That fiscal year, according to the Treasury, the debt started at $997,855,000,000 and ended at $1,142,034,000,000.

Over the last 39 years, the debt has ballooned, from $1.1 trillion to $28.4 trillion. The federal debt did not surpass $1 trillion until fiscal 1982. That fiscal year, according to the Treasury, the debt started at $997,855,000,000 and ended at $1,142,034,000,000.

(Getty Images)
(Getty Images)

In the 1994 Contract With America, conservative Republicans called for eliminating the Department of Commerce, Department of Energy, Department of Education, and the Department of Housing and Urban Development.

In the federal government, in addition to the legislative, judicial, and executive branches, there are 15 departments, such as Defense, HHS, Commerce, and Education. Also, there are approximately 457 agencies

According to The Hill, “The federal government employs nearly 9.1 million workers, comprising nearly 6 percent of total employment in the United States. The figure includes nearly 2.1 million federal employees, 4.1 million contract employees, 1.2 million grant employees, 1.3 million active duty military personnel, and more than 500,000 postal service employees.” 

Transcript

CNSNews.com: “Sen. Mitt Romney, how are you doing today?”

Sen. Romney: “Good thank you, hi.”  

CNSNews.com: “The debt of the federal government is now $28.4 trillion. Is that too much?”

Sen. Romney: “It sure is.”

CNSNews.com: “All right, and is there any federal program or agency that you would eliminate to reduce the federal spending?”

Sen. Romney: “Well, I would look to find ways to get our entitlement programs on a sustainable path because they’re destined, within the next few years to become bankrupt, [and] that would be unacceptable. We can’t cut benefits to people who rely on those programs.”

CNSNews.com: “All right, thank you so much.”

MRC Store