Congressman Francisco "Quico" Canseco (TX-23), a staunch fiscal conservative, released the following statement in response to the news that the nation's gross debt crossed the $16 trillion threshold:
"Yesterday's announcement that our nation's gross debt has reached over $16 trillion is a disturbing reminder of the spending-driven debt crisis that our nation faces and the need to begin taking action today to solve it. It is also a reminder that the Obama Administration has failed to fulfill President Obama's promise to cut the deficit in half and instead went on a spending binge resulting in four consecutive $1 trillion-plus deficits and more than $5 trillion added to our debt since President Obama took office."
"Failure to solve our nation's debt crisis not only threatens future generations of Americans by leaving them with a crushing debt that will result in less opportunity and a downsized American Dream, it threatens Americans today by depressing our economy and putting a damper on job creation in the midst of the worst unemployment crisis since the Great Depression. Unfortunately, President Obama and his liberal allies in Washington have refused to work with the House of Representatives to begin getting our fiscal house in order by cutting spending and making the hard choices that must be made. Instead, they have turned to the politics of envy and division in an attempt to further President Obama's re-election chances by refusing to accept any solution that doesn't include massive, job-destroying tax increases that will supposedly only fall on "rich" Americans but in reality will fall on American families and small businesses."
"The House of Representatives has put forward bold solutions to our nation's debt crisis that rein in spending, save Medicare and Social Security from bankruptcy, and shrink the size of our federal government. It's time that President Obama and Washington liberals did the responsible thing and began working with the House of Representatives to make sure that our national debt does not squash the hopes and dreams of the next generation."