Whereas, in January 2024, the total public debt outstanding was more than $34,000,000,000,000, resulting in a total interest expense of more than $659,000,000,000 on debt held by the public for fiscal year 2023; Whereas, in January 2024, the total public debt as a percentage of gross domestic product was more than 123 percent; Whereas, in January 2024, the debt owed per citizen was $102,147 and $265,582 per taxpayer; Whereas the last Federal budget surplus occurred in 2001; Whereas, in fiscal year 2023, Federal tax receipts totaled $4,400,000,000,000, but Federal outlays totaled $6,100,000,000,000, leaving the Federal Government with a 1-year deficit of $1,700,000,000,000; Whereas the Senate failed to pass a balanced budget for fiscal year 2024 and failed to restore regular order to the legislative process by not allowing Senators to offer and debate amendments; Whereas the Social Security and Medicare Boards of Trustees project that the Federal Hospital Insurance Trust Fund will be depleted in 2031; Whereas the Social Security and Medicare Boards of Trustees project that the combined Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund will be depleted in 2034; Whereas improvements in the business climate in populous countries, and aging populations around the world, will likely contribute to higher global interest rates; Whereas more than $8,056,100,000,000 of Federal debt is owned by individuals not located in the United States, including more than $1,050,000,000,000 of which is owned by individuals in China; Whereas China and the European Union are developing alternative payment systems to weaken the dominant position of the United States dollar as a reserve currency; Whereas rapidly increasing interest rates would squeeze all policy priorities of the United States, including defense policy and foreign policy priorities