Today, for the first time in our history, the national debt reached $16 trillion. This monumental amount is just further proof that, unlike American families across the country who are forced to make tough decisions in order to make ends meet, Washington continues to spend money we do not have and saddles future generations of Americans with greater debt and fewer opportunities. $16 trillion is more than our entire economy, yet we still see no leadership from the President on this issue, and the Senate has failed to produce a federal budget in 3 years to help rein in spending and put our country on a sound fiscal path.
Enough is enough. Washington must curb its out of control spending, and it must do so before we are in an even worse situation than we are today. We are limiting the opportunities of our children and grandchildren because we refuse to make the tough choices necessary to cut spending and start paying down our debt. It is time for Washington to learn from American families and stop spending money it doesn't have.