$31Trillion National Debt Greatest Threat to US, Not Russia or China: Senator

WASHINGTON (Sputnik) - Russia or China do not present the greatest threat to the United States, but the $31 trillion national debt does, US Senator Roger Marshall said in a congressional heading on Wednesday.

"I'm often asked what's the greatest threat our nation faces and I'm here to tell you [that] it's not Russia. It's not China. It's not North Korea. It's not Iran. And no, I love the environment, it's not climate change. The greatest long-term threat the United States faces is our national debt of $31 trillion and growing," Marshall told the US Senate Budget Committee.

President Joe Biden has spent more than any other president in US history during his first 20 months in office, Marshall said.

Under the Biden administration, energy prices have risen more than 37%, home heating fuel more than 52%, electricity prices more than 23%, gasoline more than 45%, and groceries more than 19%, Marshall said.

At the same time, real wages in the United States are not keeping with inflation, Marshall added.

On March 9, Biden released his fiscal year 2024 budget proposal. The proposal projects $6.883 trillion in spending and $5.036 trillion in revenues, resulting in a deficit of $1.846.

Biden’s budget comes as the US approaches its debt ceiling, risking a default on the country’s financial obligations if Congress does not raise its borrowing limit. Biden’s budget seeks to reduce the deficit by nearly $3 trillion in the next decade.

Republican lawmakers have criticized Biden's proposed budget for not cutting government spending as part of its economic strategy.