On the recordApril 26, 2012
this Sunday, April 29, in a few days, will mark the third anniversary of the last time the Democratic-led Senate has passed a budget. Since that date, our Nation has spent $10.4 trillion while adding $4.5 trillion to the national debt. And that is how it is that we say nearly 40 cents of every dollar we are spending now is borrowed. We have accumulated $10.4 trillion in spending over these years since we have had a budget and we have added $4.5 trillion to the debt. We are in our fourth consecutive year of trillion-dollar-plus deficits and heading into the fifth year. Prior to these 4 years, the largest deficit we ever had was about $480 billion. We have more than doubled that every year since. It is a systemic problem--and not a little problem. The economy coming back would help, no doubt, but it will not put us on a sound path. We have to make some choices. Every person in America now owes, as their share of the national debt, $45,000--every American. Every man, woman, and child is carrying that amount as their burden as a result of the overspending of this Congress. For perspective--and we need perspective because the numbers are often hard to grasp--that per-person number is larger than any of the rest of the world, including Greece. Our per-person debt is greater than the per-person debt of Greece.…
Source
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