Roy Cooper: “It is a shocking amount of debt that the administration has accumulated in a relatively short period of time. As this…”

“It is a shocking amount of debt that the administration has accumulated in a relatively short period of time. As this chart illustrates, three times in the last 4 years we have had to increase our national credit card limit... We have increased the debt limit by a staggering amount. In the year 2002, we increased it by $450 billion. In the year 2003, by $984 billion. Now we are being asked to increase it by an estimated $800 billion, for a $2.2 trillion total just in 3 or 4 years. That is a burden placed on the backs of our families, on our kids and our grandkids... To put them in perspective, look at this chart. What is $984 billion? That is more than our Nation borrowed from the years 1776 through 1980. Through all those years of our Nation's history, 200 years, we only borrowed $908 billion. Here in the last few years, 1 year to be exact, $984 billion extra. That shows how out of whack our finances have become.”