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Statement on National Debt Hitting $15 Trillion

Statement

Date: Nov. 16, 2011
Location: Washington, DC
Issues: Constitution Government Budget and Spending

Chief Deputy Whip Peter Roskam (IL-06) issued the following statement after the US Treasury Department announced the national debt has reached $15 trillion for the first time ever.

"This is a sad day for our country and the latest wake-up call to Washington that it's time to change the way business is done. Now more than ever we need to pass a Balanced Budget Amendment to cut up Washington's credit card -- an opportunity the House will have later this week. If we don't manage our debt now, our debt will forever manage us.

"America had an irresponsible amount of debt before 2009, yet President Obama's policies have made things unmistakably worse. Since his inauguration the national debt has skyrocketed: $4.4 trillion added in under three years, a 41% increase. That level of fiscal irresponsibility not only hurts job growth in this economy, it also threatens future generations' wellbeing. I urge President Obama and many congressional Democrats to reconsider their opposition to the bipartisan Balanced Budget Amendment -- a proven tool that would stop Washington's spending problem."


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