Bill > HCR24

This resolution recognizes the national debt as a critical security threat to the United States, highlighting several key economic concerns. The resolution notes that as of September 2025, the U.S. public debt has reached over $37 trillion, representing 123% of the gross domestic product, with approximately $8 trillion owned by foreign entities, including more than $800 billion by China. It references warnings from high-ranking military and intelligence officials, including former Joint Chiefs Chairman Michael Mullen and former Director of National Intelligence Dan Coats, who described the national debt as a significant threat to national security. The resolution points out that in fiscal year 2024, the U.S. experienced a deficit of over $1 trillion, with federal tax receipts of $5 trillion falling short of $6.75 trillion in federal outlays. Additionally, it warns that the Social Security and Medicare trust funds are projected to be depleted by 2033 and 2036, respectively, and that rising global interest rates could further constrain U.S. policy priorities, including defense and foreign policy. Ultimately, the resolution urges the United States Congress to establish a more effective budgeting process and calls for the Ohio House of Representatives to distribute copies of this resolution to Ohio's congressional delegation and local media.

Government Affairs

https://www.legislature.ohio.gov/legislation/136/hcr24