Republicans Release New Video Highlighting Murphy’s Reckless Spending Agenda
When liberal Congressman Chris Murphy first came to Washington in January 2007, the federal debt stood at $8.6 trillion – a figure which took over 200 years for our country to reach. Yet, just five years later, and particularly over the last three years as Murphy has rubber-stamped every major spending initiative proposed by President Obama, the federal debt has now hit the once-unfathomable mark of $15 trillion – a 74 percent increase, and more than $48,000 for every American man, woman and child.
To mark the United States Treasury reaching the $15 trillion debt mark yesterday, and to highlight the massive spending by Congressman Murphy 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 Connecticut family and business has to make tough choices and live within their means, yet since coming to Washington, Congressman Murphy and his fellow Democrats have treated the federal treasury like their own personal credit card,” NRSC spokesman Chris Bond said today. “If he makes it through his contentious Democrat primary, Murphy will have a tough time explaining to voters why he rubberstamped a reckless tax- -spend-and-borrow agenda, including the 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)
