Republicans Release New Video Highlighting Reckless Obama-Kaine Spending Agenda
Over the last several years, liberal former DNC Chairman Tim Kaine has eagerly supported each and every major spending initiative proposed by President Barack Obama, an agenda which has increased our national debt by nearly 25 percentage points as a percentage of GDP, to a record-high $15 trillion – 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 today, and to highlight the massive spending supported by President Obama and Chairman Kaine 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 Virginia family and business has to make tough choices and live within their means – yet in Washington, DNC Chairman Kaine cheered President Obama and the Democrats on as they treated the national Treasury like their own personal credit card,” NRSC spokesman Chris Bond said today. “Kaine will have a tough time explaining to voters why he has spent the last several years cheerleading for 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)
