,,ii  #aai? ,,congress  #a/ ,session    
,s4 #bcge  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,july #bb1 #bjbe,mr4   
,cassidy 7= himself & ,mr4 ,pet]s7      
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,f9ance  ,a ,,bill  ,to require a report
 on ! ?reats to ! national security ( ! 
,unit$ ,/ates pos$ by ! national debt & 
net int]e/ paym5ts on t debt4  #a4 ,%ort
 title ,?is ,act may be cit$ z !        
,national ,net ,int]e/ is ,national     
,security ,act ( #bjbe4  #b4 ,report on 
national security ?reats f ! national   
debt & net int]e/ paym5ts  7a7 ,9 g5]al 
,! ,secret>y ( ! ,treasury1 9           
consultation ) ! ,secret>y ( ,def5se & !
 ,secret>y ( ,/ate1 %all submit to !    
appropriate congressional committees a  
report on ! ?reats pos$ to ! national   
security ( ! ,unit$ ,/ates by !         
increases 9 ! national debt & net int]e/
 paym5ts on t debt pr$ict$ z ( ! date ( 
! report-- 7#a7 n lat] ?an "o ye> aft] !
 date ( ! enactm5t ( ?is ,act2 &  7#b7  

!reaft] concurr5t ) ! submission to     
,congress ( ! national def5se /rategy "u
 section #aac7;g7 ( title #aj1 ,unit$   
,/ates ,code4  7b7 ,elem5ts ,! report   
requir$ by subsection 7a7 %all include--
 7#a7 an assessm5t ( ! effect ( !       
increases 9 ! national debt & net int]e/
 paym5ts describ$ 9 subsection 7a7 on-- 
7,a7 def5se discretion>y sp5d+2  7,b7 ! 
rev5ue receiv$ by ! ,f$]al ,gov]nm5t2   
7,c7 ! capacity ( ! ,unit$ ,/ates-- 7i7 
to op]ate an effici5t & effective       
response = national def5se2  7ii7 to    
respond to em]g+ & future geopolitical  
?reats & crises2  7iii7 to respond to   
economic depressions1 recessions1 & o!r 
economic crises2 &  7iv7 to meet m&atory
 sp5d+ obligations1 includ+ =-- 7,i7 !  
,social ,security program "u title ,,ii 
( ! ,social ,security ,act 7#db         
,u4,s4,c4 #dja et seq472  7,,ii7 !      
,m$ic>e program "u title ,,xviii ( !    
,social ,security ,act 7#db ,u4,s4,c4   
#acie et seq472  7,,iii7 ! ,m$icaid     
program "u title ,,xix ( ! ,social      

,security ,act 7#db ,u4,s4,c4 #acif et  
seq472 &  7,,iv7 o!r m&atory sp5d+      
programs ! ,secret>y ( ! ,treasury      
det]m9es appropriate to include2  7,d7 !
 value & use ( ! ,unit$ ,/ates doll> 9  
global f9ancial m>kets1 ! /atus ( !     
doll> z a global res]ves curr5cy1 &     
int]national ex*ange rates2  7,e7 !     
cr$it rat+ ( ! ,unit$ ,/ates2  7,f7     
inflation 9 ! ,unit$ ,/ates2 &  7,g7    
int]e/ rates 9 ! ,unit$ ,/ates2  7#b7 an
 assessm5t ( ! likelihood ( net int]e/  
paym5ts cr[d+ out o!r discretion>y sp5d+
 priorities1 includ+-- 7,a7 priorities  
relat+ to national security & diplomacy2
 &  7,b7 public inve/m5t to address     
economic *all5ges2 &  7#c7              
recomm5dations = legislative action to  
r$uce ! ?reats to national security pos$
 by ! national debt & net int]e/        
paym5ts4  7c7 ,inclusion 9 ,high ,risk  
,li/ ( ,gov]nm5t ,acc\ntability ,(fice  
,! ,comptroll] ,g5]al ( ! ,unit$ ,/ates 
%all include matt]s relat+ to ! ?reats  
pos$ to ! national security ( ! ,unit$  

,/ates by ! increases 9 ! national debt 
& net int]e/ paym5ts on t debt to !     
matt]s on ! ,high ,risk ,li/ ( !        
,gov]nm5t ,acc\ntability ,(fice4  7d7   
,appropriate congressional committees   
def9$ ,9 ?is section1 ! t]m appropriate 
congressional committees means-- 7#a7 ! 
,committee on ,f9ance1 ! ,committee on  
,=eign ,relations1 & ! ,committee on    
,arm$ ,s]vices ( ! ,s5ate2 &  7#b7 !    
,committee on ,ways & ,means1 !         
,committee on ,=eign ,affairs1 & !      
,committee on ,arm$ ,s]vices ( ! ,h\se (
 ,repres5tatives4