Manchin says he is concerned about national debt surpassing $34 trillion

Jan. 5—U.S. Senator Joe Manchin, D-W.Va., is concerned about the national debt now surpassing $34 trillion. He has joined Republican Mitt Romney in calling upon lawmakers to pass the Fiscal Stability Act, a measure that would create a bipartisan commission tasked with finding legislative solutions to stabilize and decrease the national debt.

According to Manchin, the national debt has now surpassed $34 trillion, which he said equals to $100,000 for every person in the country. Manchin and Romney, who are often mentioned as a possible third party ticket for president and vice president under the No Labels movement, issued a joint statement earlier this week calling for action. They argue that passage of the Fiscal Stability Act is the answer.

"Years of fiscal irresponsibility have resulted in the catastrophic debt we face today, which now exceeds $34 trillion — double what it was just ten years ago," Manchin and Romney said in the joint statement. "Our debt burden is not only unsustainable, but it is also growing at a rate never before seen in the history of this country. In fact, in a matter of years, the money that the United States spends to service the debt will be greater than what it spends on anything else."

According to the joint statement from Manchin and Romney, the soaring national debt weakens the United State's economy and its national security while also jeopardizing America's standing on the international stage.

Several lawmakers in the U.S. Senate are supporting the Fiscal Stability Act, including Virginia Democrat Mark Warner and independent Kyrsten Sinema.

According to Manchin, a failure to act now on the national debt would saddle the next generation with an "insurmountable barrier to achieving the American Dream."

Romney was the Republican nominee for president in 2012. He lost that election to Democrat and former President Barack Obama.

Manchin announced in December that he wouldn't seek re-election to the U.S. Senate in West Virginia. Polls showed him losing that race to popular Republican Governor Jim Justice.

Since that time, Manchin has continued to hint at a possible third party presidential run, but has yet to officially announce anything.

Presidential primaries in several early states will begin in a matter of weeks.

— Contact Charles Owens at cowens@bdtonline.com

— Contact Charles Owens at cowens@bdtonline.com. Follow him @BDTOwens