Rep. David B. McKinley, P.E., issued the following statement after our national debt reached $16 trillion:
"This country is headed toward a fiscal cliff," said Rep. McKinley. "Make no mistake, President Barack Obama and his administration have stepped on the accelerator. He's getting us there a lot faster by adding $5.4 trillion to the national debt in less than four years with no end in sight. This is a sad and dangerous milestone for our country, and a reminder that we need to stop spending money we don't have before it's too late."
"Now more than ever, this country is in serious need of leadership. One-third of today's historic debt has cumulated under the watch of this President," said Rep. McKinley. "We are currently borrowing over 43 cents for every dollar the government is spending. Unless something is done, our children and our grandchildren will struggle to pay the huge bill, much of which is owed to the Chinese and Japanese. We must change course and stop this unsustainable spending."
"To that end I have already voted to cut $5.5 trillion in spending but the legislation is being held up in the Senate," said Rep. McKinley.