WV HR7

U.S. public debt exceeded $38 trillion in January 2026, representing 126% of gross domestic product and approximately $113,000 per citizen

More than $8 trillion of federal debt is held by foreign individuals, including over $800 billion by individuals in China

Fiscal year 2024 produced a deficit exceeding $1 trillion, with federal outlays of $6.75 trillion against tax receipts of only $5 trillion

Social Security's Old-Age and Survivors Insurance Trust Fund and the Federal Hospital Insurance Trust Fund are projected to be depleted by 2033 and 2036 respectively

The West Virginia House of Delegates formally recognizes the national debt as a threat to national security and urges Congress to establish effective regular budgeting procedures