Republicans Release New Video Highlighting Menendez’s Reckless Spending Agenda
When Bob Menendez first came to Washington in January 1993, the federal debt stood at $4.1 trillion – a figure which took over 200 years for our country to reach. Yet, today, and particularly over the last three years as Menendez has rubber-stamped every major spending initiative proposed by President Obama, the federal debt has now grown to the once-unfathomable mark of $15 trillion – a 265 percent increase and more than $48,000 for every American man, woman and child. As CBS reports, this is “the most rapid increase in the debt under any U.S. president.”
To mark the United States Treasury reaching the $15 trillion debt mark yesterday, and to highlight the massive spending by Senator Menendez and President Obama that has led to this point, the National Republican Senatorial Committee (NRSC) released a new web video – “$15,000,000,000,000…Siriously”
“Each and every New Jersey family and business has to make tough choices and live within their means, yet since coming to Washington, Bob Menendez and his fellow Democrats have pursued a reckless tax-and-spend agenda, treating the federal treasury like their own personal credit card,” NRSC spokesman Chris Bond said today. “As he prepares to face New Jersey voters next year, Menendez will have to explain why he’s rubberstamped his party’s reckless spending agenda, including his failed stimulus and government health care bill, instead of focusing on creating jobs and growing our economy.”
Click Here To Watch The NRSC’s New Video
$15,000,000,000,000… Siriously
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)
