Jones Reacts to National Debt

Statement

Today the public debt of the United States reached a record $13 trillion for the first time in history. U.S. Congressman Walter B. Jones (NC-03), a long-time critic of federal spending policies that produced this mountain of debt, released the following statement:

"It is deeply troubling to see Washington continue to spend our children into the poor house," said Congressman Jones. "Future generations will be slaves to the foreign lenders that we're increasingly dependent upon to buy our debt. To me, that is just unconscionable."

"Unfortunately, the leadership in Washington has shown no signs of reigning in the runaway deficit spending that got us into this mess. The Congressional Budget Office expects that the federal government will add another roughly $1.5 trillion to our national debt this year alone. We've simply got to wake up and realize the folly in borrowing money from foreigners in order to pay our bills. Greece just learned that lesson the hard way, and if America continues down that path, we may share their fate."

"The Obama Administration and Congressional leaders must make the national debt a priority and work in a bipartisan manner to solve this important problem. We can start by stopping all the bailouts -- both foreign and domestic -- and suspending all foreign aid."

Source