"IT'S THE DEBT, STUPID!”

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Whereas, the national debt has increased from $10.6 trillion to $16 trillion, or 50 percent, since President Obama took office;

Whereas, the national debt will increase from $16 trillion to $25.4 trillion in 2022, or 59 percent, under President Obama's budget plans;

Whereas, every man, woman and child in the United States owes more than $50,000 as his or her share of the national debt;

Whereas, every taxpayer owes more than $140,000 as his or her share of the national debt;

Whereas, there is not a single nation in the Eurozone that has a per person debt greater than that of the United States;

Whereas, the national debt is greater than the nation's gross domestic product, which measures the output of the entire U.S. economy;

Whereas, in the last four years, the national debt has increased by more than it did in the previous 17 years;

Whereas, 32 cents of every dollar the government spends is borrowed;

Whereas, the national debt grows by $2.8 million a minute — or $4.03 billion a day;

Whereas, the government will spend a stunning $474 billion this year on interest payments on the national debt;

Whereas, the annual interest payment on the debt is a reckless $474 billion demonstrating the government's total lack of concern for this complete failure of financial management leading to insolvency and bankruptcy;

Whereas, the annual interest payment on the national debt is already the fourth-largest item in the federal budget behind Medicare-Medicaid spending, Social Security and the Department of Defense and the Government Accountability Office predicts that interest on the national debt will be the single largest item in the federal budget in the next decade;

I, therefore, am joining CAGW's "IT'S THE DEBT, STUPID!" national drive to create a new, powerful, and unstoppable outcry by Americans to end the skyrocketing spending that has exploded the national debt and more than ever before threatens to bankrupt this country.