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Public Statements

$16 Trillion and Counting

Statement

By:
Date:
Location: Washington, DC

U.S. Representative Judy Biggert (R-IL-13th) issued the following statement regarding the U.S. national debt, which soon is expected to reach a staggering $16 trillion:

"Not long ago, a debt of this magnitude would have been unthinkable. Today, there are actually leaders in Washington who seem content to follow countries like Greece off the fiscal cliff. We cannot continue to ignore Washington's spending addiction while the national debt drains our economy of jobs, capital, and confidence. The solution is for policymakers to work together to cut spending and get the private sector growing again.

"We should start with the House budget proposal to bring federal spending back down to sustainable levels of about 20 percent of the economy -- the same as our post-WWII average. We also need broad-based tax reform to simplify rates, eliminate loopholes, and create room for the private sector to grow again. The path out of debt cannot be built on a foundation of fewer and fewer jobs. We need growth -- not more taxes, spending, and debt."

NOTE: Today, the National Debt is approaching $16 trillion, up from $10.6 trillion dollars in January 2009, an increase of more than 50 percent over three and one-half years.


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