The House of Representatives voted to pass its yearly defense bill, the National Defense Authorization Act (NDAA), allocating $895.2 billion towards defense and national security. The bill, totaling 1,800 pages, was approved by a vote of 281-140, with bipartisan support but some dissent from both Republicans and Democrats.
The NDAA now moves to the Senate for approval before reaching President Biden's desk for his signature. This significant allocation adds approximately $1 trillion to the already staggering $36 trillion national debt, which continues to grow rapidly.
Recent data from the U.S. Treasury Department shows the national debt at $36,163,442,396,226.61, a substantial increase from $907 billion 40 years ago. Projections from the Congressional Budget Office suggest the debt could reach $54 trillion in the next decade, driven by factors such as an aging population, rising healthcare costs, and increasing interest rates.
President Biden's administration has been marked by substantial spending, with approximately $4.8 trillion in borrowing approved as of September 2022. This includes funding for initiatives like the American Rescue Plan and the bipartisan infrastructure bill. While Biden has highlighted a $1.7 trillion reduction in the deficit during his tenure, critics point out that this decrease was largely due to the expiration of emergency COVID-19 measures.
The NDAA, despite contributing to the national debt, received bipartisan support in Congress. The bill includes provisions such as a 14.5% pay raise for junior enlisted service members and a 4.5% increase for others, aimed at enhancing the quality of life for military personnel. However, some Democratic lawmakers expressed concerns over certain provisions, such as a ban on transgender medical treatments for children of military members.
As the Senate considers the NDAA and its implications, the impact of increasing national debt on the country's economic stability remains a topic of ongoing debate and concern.
