Greg Murphy, Representative of North Carolina, said that rising federal spending is driving debt growth and that addressing waste and excessive expenditures is key to safeguarding America’s fiscal security. The statement was made on X.
“The growth in federal spending continues to drive our debt-to-GDP ratio to new highs,” said Gregory Francis Murphy, U.S. Representative for North Carolina’s 3rd congressional District (R). “We don’t have a revenue problem; we have a spending problem. Cutting reckless spending and waste, fraud, and abuse is necessary to protect the fiscal security of America.”
Federal spending and debt remained elevated in 2024–2025, with structural deficits continuing to drive fiscal policy debates. In June 2024, the Congressional Budget Office (CBO) reported federal outlays of $6.8 trillion, equal to 23.9% of GDP, while projecting that debt held by the public will rise to 116% of GDP by 2034. Rising interest costs and persistent deficits are central issues shaping federal budget negotiations, according to the CBO.
The U.S. debt-to-GDP ratio was 96.6% in the first quarter of 2025, compared to about 72.5% in the first quarter of 2015, showing a sharp increase over the past decade. The ratio briefly peaked at 103.1% during the second quarter of 2020 amid pandemic borrowing, then declined slightly before trending upward again. This long-term climb highlights ongoing fiscal pressures, according to the Federal Reserve Bank of St. Louis.
Improper payments remain a key measure of waste, fraud, and abuse in federal programs. In fiscal year 2024, federal agencies reported an estimated $162 billion in improper payments across 68 programs, down from $236 billion in 2023 as pandemic-related programs phased out. About three-quarters of these losses were concentrated in just five major programs, according to the Government Accountability Office.
Murphy has represented North Carolina’s 3rd Congressional District since 2019 and is a Republican serving on the House Ways and Means Committee, which oversees tax and fiscal policy. Before Congress, he worked as a physician and state legislator in the North Carolina House of Representatives from 2015 to 2019. His official biography notes his legislative focus on healthcare and fiscal matters, according to the Clerk of the U.S. House of Representatives.
