William Helms: “The Federal Government is existing on borrowed money--more than $5…”

On the recordJune 5, 1996

The Federal Government is existing on borrowed money--more than $5 trillion of it. As of the close of business yesterday, June 4, 1996, the Federal debt stood at $5,139,963,594,008.65. On a per capita basis, every man, woman, and child in America owes $19,395.97 as his or her share of the Federal debt. More than two centuries ago, the Continental Congress adopted the Declaration of Independence. It's time for Congress to adopt a declaration of economic responsibilities--and an amendment requiring the President and Congress to come up with a balanced Federal budget-- now.

Said by

William Helms

Republican · New Jersey

Source

govinfo.gov

Editor's note · Context

Addressing the national debt and advocating for a balanced federal budget amendment.

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William Helms: “The Federal Government is existing on borrowed money--more than $5 trillion of it. As of the close of business…”

Editor's note · Context