Reed Submits Legislation to Establish Debt Clock in House of Representatives

Statement

Today Congressman Tom Reed submitted legislation directing the Clerk of the House of Representatives to place a real time display of the United States gross national debt in the House chamber. Reed explained that placing this debt clock in view of Members of Congress would be a visual gesture to ensure that the House is always cognizant of the national debt no matter what business is being discussed.

"We are currently borrowing $58,000 per second," Reed observed. "We borrow at least forty cents of each dollar we spend. That is unsustainable. The debt clock will be a distinct reminder that our national debt must always be our first consideration as we continue to spend money that we do not have."

From 1791 to 1984, a period of 194 years, the total accumulated Federal deficit was $1.5 trillion. The projected Federal deficit for 2011 alone, one single year, is also $1.5 trillion. "The voters of the 29th District of New York elected me to get our spending and borrowing under control," Reed said. "We must never lose sight of that fact that our children and grandchildren will quite literally pay tomorrow for the decisions made today."

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