Washington, D.C. – Wyoming Congresswoman Liz Cheney (R-WY) issued the following statement after legislation that she co-sponsored to promote greater transparency of our country’s financial health passed the House of Representatives by voice vote. The bill, H.Con.Res. 44, the “Fiscal State of the Nation Resolution,” would require the Comptroller General to present the Financial Report of the United States Government to an annual joint hearing of the House and Senate Budget Committees, open to all Members of Congress.:
“I was proud to co-sponsor this commonsense resolution and am glad that the House has taken action to pass it. Instead of ignoring our national debt and ramming through trillions of dollars in runaway spending, we must focus on fiscal responsibility and getting our spending under control. Our growing debt will not only harm future generations who will be forced to foot the bill, but will endanger our economic and national security. I hope requiring the Comptroller General to present annually on our nation’s fiscal situation will ensure Congress can’t ignore the fiscal realities of our growing national debt.”
The full text of the resolution can be read here.
H.Con.Res. 44, the Fiscal State of the Nation Resolution would require the Comptroller General to present the Financial Report of the United States Government to an annual joint hearing of the House and Senate Budget Committees, open to all Members of Congress. The presentation would take place within forty-five business days of issuance of the Financial Report to ensure lawmakers receive the information in an accurate and timely manner.
The Congressional Budget Office projects deficits will total $3.0 trillion in 2021 and $12.1 trillion over the next decade. At 13.4 percent of gross domestic product, the deficit in 2021 would be the second largest since 1945.