Thursday, February 04, 2010

Rep Latta Opposes National Debt Limit Hike --- Again

WASHINGTON- Congressman Bob Latta (R-Bowling Green) made the following statement after voting against H. J. Res. 45, a bill that would increase the United States’ national debt limit to $14.29 trillion dollars. Congressman Latta also voted against a national debt limit hike on December 16, 2009, less than two months ago.

“This is the fifth debt limit increase under House Speaker Nancy Pelosi and this Democrat controlled Congress, who continue to lay more debt at the feet of our future generations. Aside from the staggering dollar figure of over $14 trillion dollars, this vote highlights the underlying problem in Washington of a continued tax and spend policy from the Obama Administration and Congressional Democrat leadership. Just this week, President Obama submitted a budget proposal that will increase our national debt to $25.77 trillion dollars by 2020. The non-partisan Congressional Budget Office has stated that by 2020, at the current spending levels, taxpayers in the United States will pay $2 billion per day in interest payments alone.

In addition to this year’s budget proposal, the President continues to send legislation to Congress with trillion-dollar price tags – including the already passed ‘stimulus’ package, health care ‘reform,’ the largest ever national energy tax, cap and trade, and billions more in bailouts. These fiscally irresponsible practices must be stopped immediately.”

As of today, the current national debt stands at $12,357,792,719,324.2, leaving every American citizen responsible for $40,151.42.