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Public Statements

U.S. Government In Deficit Spending Rest Of Year

Statement

By:
Date:
Location: Washington, DC

As of April 26, the federal government will be in deficit spending for the remainder of the fiscal year, which ends September 30. This day has become known as Debt Day, as everything the federal government spends after April 26 will add to the national debt.

This is the earliest Debt Day since the September 11th attacks occurred, three months earlier than last year's Debt Day of August 5.

You and many families like yours may be facing the reality of a tightened household budget. Yet the federal government just keeps on spending.

I have voted against the out of control spending that has caused this massive deficit this fiscal year. Last year I voted against the financial bailout and against the automakers bailout. Earlier this year I voted against the stimulus plan, against the Omnibus appropriations bill, and against next year's budget -- which is just as bad as this year's budget when it comes to deficit spending.

The President's proposed budget outlined spending for the next ten years. It almost doubles discretionary spending from 2008 to 2009 when stimulus funds are included, and nearly doubles our national debt from just over $8 trillion in 2009 to over $15 trillion in 2019.

Currently our national debt is about $35,000 per person. If the President has his way, it will end up being $70,000 per person. Because approximately one-third of those filing federal income tax returns do not pay any income tax, the growing burden falls on only two-thirds of those filing returns.

Some people claim the Tax Day Tea Parties were useless or for the wrong reasons. I believe these numbers show that more tea parties lie ahead.


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