Instead, Wants To Continue With Reckless, Historic Spending Spree
Just one day after the national debt hit a record-high $15 trillion, liberal Congressman Chris Murphy (D-CT) voted against balancing our federal budget, instead preferring to continue rubber-stamping President Barack Obama’s reckless spending spree in what CBS News reports is “the most rapid increase in the debt under any U.S. president.”
Notably, today’s $15 trillion national debt represents more than $48,000 in debt for every American man, woman and child — a 74 percent increase since Murphy first came to Washington in January 2007 with our national debt at $8.6 trillion.
“While families and businesses in Connecticut make hard choices to live within their means, Chris Murphy apparently thinks Washington should continue its reckless deficit spending spree and keep racking up debt at a record pace with no accountability,” said National Republican Senatorial Committee (NRSC) spokesman Chris Bond today. “Murphy’s liberal fiscal agenda isn’t just harmful to taxpayers today, it’s dangerous for future generations who will have to pay for his irresponsible government spending in Washington.”
BACKGROUND….
THE NATIONAL DEBT HAS HIT THE $15 TRILLION MARK
The National Debt Is Now $15.0 Trillion Dollars. (US Department Of The Treasury, TreasuryDirect.gov, Accessed 11/16/11)
Since President Obama Took Office And Senate Democrats Rubberstamped His Spending Agenda, The National Debt Has Risen $4.4 Trillion, An Increase Of Over 41 Percent. (US Department Of The Treasury, TreasuryDirect.gov, Accessed 11/16/11)·
HOW MUCH IS $15 TRILLION?
$15 Trillion Is More Than The Value Of All The Goods And Services Produced In The United States Last Year. (“Gross Domestic Product,” Bureau Of Economic Analysis, BEA.gov, Accessed 11/3/11)
In FY2010, The Bureau Of Engraving And Printing Produced $974 Million Worth Of Currency. At That Rate, It Would Take 15,400 Years To Print $15 Trillion. (“Annual Production Figures,” Bureau Of Engraving And Printing, Accessed 11/3/11)
· It Would Take The Average Household Over 300 Million Years To Pay Off The National Debt On Their Own.(Press Release, “Income, Poverty and Health Insurance Coverage in the United States: 2010,” US Census Bureau, 9/13/11)
To Pay Off $15 Trillion In Debt, The Federal Government Would Have To Devote Every Dollar Of Revenue To Paying Off The Debt For 6.5 Years. (“Monthly Budget Review,” Congressional Budget Office, 10/7/11)
