America’s growing debt crisis sparks concerns for future generations

Washington-DC

WASHINGTON (NEXSTAR) — With just 11 days to pass a spending bill to avoid a government shutdown, some lawmakers believe Congress is spending too much as the country’s debt continues to grow.

Sen. Joe Manchin, a Democrat from West Virginia, says he wakes up every morning with a message.

“First text I get every morning, OK? The national debt [is] 26 trillion dollars,” he said.

Manchin says that growing number makes him concerned about what lies ahead for future generations.

“I can’t look at your generation, I can’t tell you everything is going to be hunky-dory,” Manchin added.

Manchin and a group of bipartisan senators said they’re working to tackle the debt crisis before it falls into the laps of millennials.

“We’re now looking at, without question, the greatest generational transfer of money, certainly of debt, in human history,” Weston Wamp, founder of the Millennial Debt Foundation said.

Wamp is working with members of Congress and with the nation’s millennial business leaders to reduce the debt.

“It’s time to make tough decisions. This is not funny money,” Wamp added.

This week, Congress is working to pass a $1.4 trillion spending bill to keep the government running, as well as consider annual military funding and another round of coronavirus relief.

Manchin says all that spending matters.

“I’m making people aware of the debt. I want people to know the debt,” he said.

With President-elect Joe Biden recently naming his economic team, the Millennial Debt Commission is now set to meet again just after inauguration as they work to keep Congress and the country on track.

Copyright 2021 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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