U.S. Senator Roger Wicker (R-Miss.) today made the following statement after the Treasury Department confirmed the federal government's deficit totaled $1.3 trillion in 2010.
"Today's Treasury Department announcement about the deficit confirms what Americans have been warning all along -- Washington is dangerously spending more than we can afford," said Wicker. "Rather than creating jobs and improving the economy, the failed stimulus bill and government bailouts created one of the largest deficits in American history since the Second World War.
"More than one out of every 10 Mississippians is looking for work, leading many to question what they are getting in return for their tax dollars. Clearly, increasing government spending is not the answer to our economic problems. The reckless spending of today limits the opportunities for future generations. If we fail to drastically reduce the size of the government, our children and grandchildren will be forced to bear the burden."
Earlier this month, the non-partisan Congressional Budget Office first reported the $1.3 trillion federal deficit during the 2010 fiscal year, which ended on September 30. The total U.S. debt stands at $13.6 trillion.