Rep. Michael G. Grimm (R,C-NY) issued the following statement on the national debt reaching $16 trillion:
"Today our national debt reached an unprecedented level. In just over three and a half years, President Obama's borrow-and-spend policies have increased our national debt by over 50 percent -- raising it from $10.6 trillion to $16 trillion. That's more money than the first 41 presidents combined!
"If President Obama believes that Americans are better off than we were four years ago, he clearly hasn't read the facts. Our national debt has just topped $16 trillion; gas prices have more than doubled; we have seen four straight years of trillion dollar deficits; and unemployment has remained above 8% for 42 consecutive months with millions of Americans still out of work.
"It is unbelievable that after spending so much time touring the country on the campaign trail, President Obama still cannot see that America is worse off than when he took office. The reality is that this president has failed to lead, failed to keep his promise to cut spending, and failed to change the course of our nation; and it is the hard-working American people who are paying the price.
"We are approaching a fiscal cliff, and we need prompt action and decisive leadership before we push ourselves over the edge. I remain committed to putting forth real solutions that put our nation back on the right track to get our debt under control, stop the looming tax hike on the middle class, and put Americans back to work. Let's make no mistake about it, this is an American challenge, not a partisan issue, which we must tackle together as a unified nation and thus it's time for the entire Congress to put politics aside and work together to secure a prosperous future for the next generation."