Whereas, in January 2023, the total public debt outstanding was more than $31,000,000,000,000, resulting in a total interest expense of more than $717,611,000,000 for fiscal year 2022; Whereas, in January 2023, the total public debt as a percentage of gross domestic product was about 121 percent; Whereas, in January 2023, the debt owed per citizen was $94,240 and $246,864 per taxpayer; Whereas the last Federal budget surplus occurred in 2001; Whereas, in fiscal year 2022, Federal tax receipts totaled $4,896,000,000,000, but Federal outlays totaled $6,272,000,000,000, leaving the Federal Government with a 1-year deficit of $1,376,000,000,000; Whereas the Senate failed to pass a balanced budget for fiscal year 2022 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 2028; Whereas the Social Security and Medicare Boards of Trustees project that the 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 $7,270,000,000,000 of Federal debt is owned by individuals not located in the United States, including more than $870,000,000,000 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; Whereas, on April 12, 2018, former Secretary of Defense James Mattis warned that any Nation that can’t keep its fiscal house in order eventually cannot maintain its military power