Kansas U.S. Rep. Tracey Mann addressed the soaring national debt in a recent committee hearing, in which he emphasized the severity of the situation and how it is impacting American households.
In the hearing, Mann said every household would need to hypothetically contribute upwards of $270,000 each in order to pay off the current national debt, which proves to be unsustainable due to the fact that the average mortgage cost in the U.S. sits at around $245,000. He stressed the importance of addressing these untenable fiscal policies in order to safeguard America’s financial future.
“Every household would need to contribute $270,000 to wipe out national debt,” Mann said, urging that action be taken immediately.
