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Coats: $16 Trillion in Debt No Occasion to Celebrate

September 5, 2012
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  09/06/12 Senator Dan Coats (R-Ind.) issued the following statement today on news that the United States debt has reached $16 trillion:

“Today, the United States national debt exceeded $16 trillion for the first time. Although a historic moment for our nation, this is no occasion to celebrate. Instead, this sobering milestone is an indictment of Washington’s failure to address the most pressing challenge facing our country.

“Our federal government’s unsustainable debt is not just a fiscal crisis; it’s a national security crisis as well. Overwhelming red ink jeopardizes the security of our country and makes us more vulnerable to the foreign countries providing the borrowed money used to subsidize our excessive spending. We must stop the bleeding.

“Hoosiers and Americans across the country must stand and call on all leaders in Washington to act now. Rather than do nothing and mortgage our children’s future, I will continue to fight to control spending, reform entitlement programs and simplify the tax code to grow the economy, reduce our debt and prevent this great country from becoming the next Greece.”

 

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One Response to “ Coats: $16 Trillion in Debt No Occasion to Celebrate ”

  1. Thor on September 6, 2012 at 8:14 am

    Spot on Dan.

    The federal deficit is the Great Red Menace of this generation, it will begar our children and enslave them to the avarice of today’s takers.

    This is one more reason why we need to ensure that Joe Donnely does not get elected Senator of this great state. He has voted 98% with Nancy Pelocy doing a fine job of representing Southern California…not his constituency.

    If not, then we will endure another spree of feckless spending that will generate no visible benefits while furthering our path to fiscal insolvency.

    Without an unprecidented boom in economic activity…private not government economic activity, we will not be able to climb out of this decades old path to slavery and big brother nanny state government.