U.S. Senator Bob Corker made the following statement regarding reports that the United States national debt will reach $16 trillion.
Today, the United States passed a new unfortunate threshold which should be a call to action for Washington to finally address the potentially debilitating challenges posed by our unsustainable deficits and debt, which is now over 100% of our nation’s gross domestic product," said Corker. "Doing so is going to require pro-growth tax reform combined with a long-term plan to restore solvency to entitlement programs, especially Medicare and Social Security. A fiscal reform plan including these reforms would alleviate much of the uncertainty which has been holding back the private sector investment necessary to create jobs, grow the economy, and allow us to focus on being a great nation."