Federal Debt Surpasses $16 Trillion PDF Print

On Tuesday, the Treasury Department announced that our national debt has passed $16 trillion for the first time in American history. That amounts to more than $50,000 for every man, woman, and child in the United States. In fact, each American’s share of the national debt has increased by about $16,500 since President Obama took office in January 2009. Yet all of this spending and debt has not brought about sustained economic growth. Instead, the American people continue to face high unemployment and stagnant incomes while we wait for the bill to come due. We cannot continue down this course. House Republicans have passed legislation to cut federal spending and get back on the path to a balanced budget. The most recent debt numbers should be a wake-up call to the President and the Senate that we must act now for the sake of our economic future.

 
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