Joshua Meyer Testimony in Ohio: The National Debt Threatens National Security

ALEC Tax & Fiscal Policy Task Force Director Joshua Meyer testified before the Ohio House Government Oversight Committee on HCR 24 and addressing the seriousness of the national debt and its threat to national security.

You can read his testimony below:

Dear Chairman Hall, Vice Chairman Ferguson, and Members of the House Government Oversight Committee,

My name is Joshua Meyer and I serve as Director of the Tax and Fiscal Policy Task Force at the American Legislative Exchange Council (ALEC). I appreciate the opportunity to share ALEC’s nonpartisan research and analysis as you consider HCR 24, a Resolution on the Seriousness of the National Debt and its Threat to National Security. Many state governments in this country model prudent fiscal behavior. They pass balanced budgets, keep debt modest, and are careful not to commit taxpayers to excessive long-term obligations.

Ohio has seen budget surpluses in recent years, cut taxes, and kept spending growth under control. The state’s Constitution places certain limits on Ohio’s issuance of debt. Like many states, it would be unfair to say this state has not faced fiscal challenges, but prudence and strong institutions have prevented out-of-control debt. It is not so in Washington D.C. Earlier this year, the debt held by the public surpassed 100% of Gross Domestic Product for the first time since the years immediately following the second World War. Scarcely little is being done to change the course of this ballooning debt.

As Indiana State Comptroller Elise Nieshalla and ALEC President and Chief Economist Jonathan Williams recently wrote, states like Ohio tat labor to balance their budgets are still vulnerable to the profligacy of the federal government, which adds about $2 trillion to the national debt each year. But the states can play a role in guiding Washington D.C. on the fundamentals: balanced budgets, prudent limits on spending, and transparent accounting.

The Resolution before the Government Oversight Committee is based on one originally sponsored by then-Senator Mike Braun as Senate Resolution 600 and passed in the 118th Congress. It passed the Indiana State Senate last year and was adopted as an ALEC model resolution. At least 10 other states are considering resolutions that resemble this model.

This resolution highlights that the growing debt is not only a fiscal problem, but a serious national security concern. The U.S. debt held in foreign nations is approaching $10 trillion as the total debt approaches $40 trillion. Right now, it is reported that about $700 billion of that debt is held in China.

Senator Braun’s 2025 Resolution expressed concerns over a debt that was over $34 trillion. The version that became an ALEC model noted $36 trillion. A version passed in the Alabama Senate has 38.5 trillion. With the speed of the debt’s growth, it should be forgiven that the version of the Resolution introduced by Representative Thomas notes that it is “more than $37 trillion.” This is still correct, but it could also now be said that the debt is “more than $39 trillion.” Such is the nature of the debt, underlying its seriousness as a threat to our national security.

Through the passage of HCR 24, Ohio can be one of the leading states in recognizing this threat and calling on the United States Congress to commit to establishing a regular order for budgeting.