Obama is the "$20 Trillion Man"
As his administration comes to a close, there’s one legacy that Barack Obama is not talking about, and that’s the fact that he is the $20 trillion man. In just seven short years, our national debt has nearly doubled from just over $10 trillion when Obama took office, to nearly $20 trillion today.
This is not only unfair to future generations of Americans, it’s immoral. That’s why I was pleased today to support a bill that would require a member of the current administration to come before the Congress prior to each and every potential debt limit increase to provide testimony and detailed reports on the drivers of our national debt, progress on debt reduction as well as new proposals to reduce the debt. While House Republicans have passed balanced budget after balanced budget, this president continues to propose budgets that never balance.
This is not Monopoly money – these are hard earned tax dollars from average Americans, and they are who we should consider when discussing whether to raise our debt limit yet again. This bill allows us to better our communication between the branches of government and make smart choices to reduce our debt.
For more on H.R. 3442, the Debt Management and Fiscal Responsibility Act, click here.