U.S. Debt Increases by $1 Trillion on Obama's Watch

Press Release

U.S. Debt Increases by $1 Trillion on Obama's Watch

U.S Representative Cynthia Lummis, R-Wyo., issued the following statement regarding information from the U.S. Treasury Department that since January 20, 2009, the federal debt has increased by more than $1 trillion:

"After seven months of continued taxpayer funded bailouts, so-called economic stimulus plans, and bloated spending bills, the American people have every right to feel like their government is hanging them out to dry. Every month, families across this nation balance their checkbooks and live within their means. Unfortunately, Washington has chosen not to follow their good example.

"Under this President's watch, the American people have seen the federal debt rise more than $1 trillion. The debt held by the public now stands at more than $11.6 trillion. That means every man, woman and child in America is now saddled with over $38,000 in debt.

"Washington must make sacrifices to get our debt burden under control. But our current leadership in Congress and the White House are simply not making the tough decisions necessary to maintain fiscal discipline.

"We cannot borrow our way out of this massive debt. The American people are making sacrifices and so must the government if we are to have a chance of righting our fiscal ship and bolstering America's natural role as a driver of economic prosperity."

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