To mark the United States Treasury reaching the $15 trillion debt mark today, and to highlight the massive spending by Senator Tester 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”

“As a candidate for the Senate in 2006, Jon Tester talked about the importance of fiscal responsibility, but since coming to Washington he and his fellow Democrats have used the federal treasury like their own personal credit card,” NRSC spokesman Chris Bond said today.  “As he prepares to face Montana voters next year, Senator Tester will have to explain why he’s rubberstamped President Obama’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)

In 2006, Tester Expressed Support For A Federal Balanced Budget

Tester: “Let’s Be Fiscally Responsible. Let’s Have A Fiscally Balanced Budget, Just Like We Do In The State Of Montana. We Don’t Deficit Spend Here, We Don’t Have To At The Federal Level.” TESTER: “My folks did not teach me to not have a fiscal balanced budget. It’s absolutely critical. . . . You cannot make the claim that you are not a borrower and spender, because you are. And I think that’s very sad. Because I am of the belief that you take care of your own self and you don’t pass your debts on to your kids. We’re passing an incredible debt on to our kids. . . . In my opening statement I talked about the kind of abilities and gifts we give our children to be successful, we’re saddling them with a debt of what is it . . . 45, 50 thousand dollars? That’s not right. Let’s be fiscally responsible. Let’s have a fiscally balanced budget, just like we do in the state of Montana. We don’t deficit spend here, we don’t have to at the federal level.” (Montana Senate Debate, Whitefish, MT, www.c-spanvideo.org, 6/25/06)

·         Video Here: http://www.youtube.com/watch?v=95XYdyJ-ybQ

Tester: “I’m Not About To Put My Kids’ Future And Opportunity On The Line So I Can Spend Money Like A Drunken Sailor. I Am Going To Be Fiscally Responsible. And The Fact Is If You Would Support A Pay-As-You-Go In This Government, We Wouldn’t Be In A Situation Where We Have Every Man, Woman, And Child, And Child To Be Born With A $30,000 Debt.” (Montana Senate Debate, www.c-spanvideo.org, 10/12/06)

·         Video Here: http://www.youtube.com/watch?v=WlHE4FzuO2I