Congressman Leonard Lance (NJ-7) released the following statement on the December jobs report:
"While December's job growth is welcome news, our economy continues to drown in a sea of red ink. This week the U.S. Treasury's Bureau of the Public Debt announced that our Nation's national debt now exceeds annual gross domestic product (GDP) -- marking the first time since the 1940s that the national debt was larger than the American economy, as measured by GDP. This troubling milestone only adds to the economic uncertainty that our job-creators have experienced for far too long.
"Washington's continued borrowing and spending is hurting the U.S. economy, damaging our credit rating and placing an unfair debt burden on our children and grandchildren. President Obama and congressional leaders must focus on making the hard choices necessary to balance the federal budget and enact pro-growth policies that create U.S. jobs and revitalize the economy."