Congressman Tim Huelskamp, a member of the House Budget Committee, issued the following statement when the U.S. hit the $16 trillion debt mark on the afternoon of Tuesday, September 4, 2012:
"It is fitting that the same day that Democrats gather in Charlotte to defend and justify President Obama's record that America hits a new milestone: $16 trillion in debt. President Obama can point fingers all he wants, but in less than four years he has added more debt than his predecessor did in eight. He has legitimately earned the title "Debt King." He promised to cut the deficit in half by the end of his first term, but instead he has run trillion-dollar deficits every single year of his presidency."
"President Obama can chalk up this record level of debt to a bad economy, but that is on him, too. His failed economy has left 23 million Americans out of work or underemployed, put record numbers of Americans on food stamps and at a record pace, and left American families in worse financial shape than when he took office. America's businesses are sitting on their hands for fear of what Barack Obama has in store next, and American workers are paying the price. America cannot afford Barack Obama's further experimentation in the White House. He pledged he had the answers. In fact, he said it himself: '[I]f I don't have this done in three years, then there's going to be a one-term proposition.' These are the terms. He set them. He did not meet them. Let the American people hold him accountable."
"But, fixing America's out-of-control debt situation is not solely the responsibility of the President; it is also incumbent on Congress to be an active participant. We had an opportunity to put a more fiscally-responsible solution in place last August with 'Cut, Cap, Balance,' but the House did not stand its ground. We have no choice but to stand firm when borrowing authority once again runs out at the end of the year."
Congressman Huelskamp sponsored "Cut, Cap, Balance," which the House passed, but he voted against the Budget Control Act -- the most recent increase of the debt limit -- in August 2011.