Last week, the U.S. Treasury announced that our national debt has reached $16 trillion. The U.S. debt has risen by more than 50% since President Obama's inauguration, from $10.6 trillion to $16 trillion. This debt is unsustainable; it's that simple. Big government isn't solving our problems. Despite adding $5 billion to our debt, we're still struggling with high unemployment and stagnant economic growth. But the real tragedy of accumulating $16 trillion in debt is that we're saddling our children and grandchildren with a bill they may never be able to repay.
We have to stop spending money we do not have, and the Senate must help us begin that process. It's time for Senate Democrats to pass a budget that shrinks the size of government and doesn't put the future of the American dream in jeopardy. I will continue to vote to rein in government spending, and I hope you'll join me in my effort to reduce our debt and get our spending under control.