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The National Debt

By: Ed Case
By: Ed Case
Date: Sept. 15, 2004
Location: Washington, DC
Issues: Senior Citizens Entitlements and the Safety Net


THE NATIONAL DEBT -- (House of Representatives - September 15, 2004)

(Mr. CASE asked and was given permission to address the House for 1 minute and to revise and extend his remarks.)

Mr. CASE. Mr. Speaker, it has been 1,215 days since the current administration assumed stewardship over our Federal budget. During that time, our national private debt has increased by 1.733 trillion. According to the Web site for the Bureau of the Public Debt at the U.S. Department of Treasury, yesterday our Nation's outstanding privately held debt alone was $4.343 trillion, an increase of 39 percent in just 3 ½ years. And foreign holdings of that debt now total $1.79 trillion, an increase of $780 billion since January, 2001, and now 41 percent of all privately held debt.

Total Federal debt at the end of this current fiscal year in just 15 days, including obligations to Social Security and Medicare, is projected to be $7.372 trillion.

It is time to stop the bleeding.

END

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