The National Debt

Floor Speech

Mr. SMITH of Nebraska. Mr. Speaker, since 2007, our national debt has increased 39 percent from nearly $9 trillion to more than $12 trillion. This works out to be $39,000 for every man, woman, and child in America just to pay off our country's debt. Now there is a push to increase our Nation's debt ceiling to $13.9 trillion, despite warnings this increase will be harmful to the U.S. economy.

At a time of double-digit unemployment and with more than 2.6 million jobs lost since the so-called stimulus was passed by Congress, isn't it time we institute fiscally sound policies?

Over the last 11 months, the American people have seen unprecedented spending from Washington, D.C. They are certainly not impressed. They know any economic recovery starts with tax relief for working families and small businesses and fiscal discipline from Washington.

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