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Stimulus and the National Debt

Floor Speech

Date: Feb. 4, 2009
Location: Washington, DC
Issues: Government Budget and Spending


STIMULUS AND THE NATIONAL DEBT -- (House of Representatives - February 04, 2009)

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Ms. FOXX. The national debt will jump by more than $1 trillion in the 6 months ending in March. $1 trillion dollars in 6 months. Think about that. The previous record increase in the national debt was less than half this amount, and that was over the course of an entire year, which means we are currently racking up debt at four times the rate of the previous record. And all of this debt doesn't include the so-called stimulus package that the Senate has already porked up to $900 billion. It's so full of spending unrelated to job creation that we can't even begin to tally the waste.

We must stop and take stock. With hardly a second thought, the Federal Government is careening towards a record $2 trillion deficit--payable by our children, grandchildren, and great grandchildren. My friends, we cannot borrow and spend our way to prosperity.

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