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Rep. Graves: $16 Trillion Debt Untenable and Unsustainable

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Date:
Location: Washington, DC

Rep. Tom Graves (R-GA-09) released the following statement today, after reports that the United States national debt has hit $16 trillion.

"After bailouts, buyouts, failed stimulus, cash for clunkers, and trillion dollar budget deficits, today, President Obama marked a new milestone -- racking up $16 trillion in debt now on the backs of the American people. That's more than $51,000 for every man, woman and child. Clearly, the President's vision for America is one of debt and dependency, rather than opportunity and prosperity. The level of debt accumulated by the U.S. government, which is now more than 100 percent of our nation's gross domestic product, is untenable, irresponsible, and unsustainable. Instead of spending our way into oblivion and increasing our ever-growing debt, we must begin the process to restoring our fiscal health through growing the economy."


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