The $16 Trillion Man AP Images
$16 Trillion National Debt Grinds Economic Growth and Job Creation to Halt, Says AJS Chief.
16 trillion and Moebama is bailing out the Muslim Brotherhood in Egypt.
Stephen DeMaura, President of Americans for Job Security, today issued the following statement in the wake of the U.S. national debt hitting a record-breaking $16 trillion:
"An economy with tremendous debt is slow to grow, slow to expand and slow to hire. Weighed down by more than $16 trillion in debt, America's economy cannot grow fast enough to return our nation to full employment. With an unemployment rate that has hovered above 8 percent for 43 consecutive months, the government's big-spending policies are only perpetuating the recession and grinding economic growth and job creation to a halt."Under President Obama’s watch, the national debt today hit a record $16 trillion.
The president promised to cut the deficit in half by the end of his
first term. However, he has now presided over four straight years of
deficits over $1 trillion.
- The president’s big-spending policies are costing jobs and economic growth and saddling future generations with crushing debt.
President Obama’s big-spending policies have added trillions to the national debt:
- President Obama’s failed stimulus bill added nearly $1 trillion to the federal debt.
- ObamaCare is expected to add over a half trillion to the federal debt over its first 10 years.
- President Obama’s tax-and-spend budgets have been unanimously rejected by both sides of the aisle three separate times.
- Senate Democrats haven’t passed a budget in almost three-and-a-half years.
The president’s policies are costing jobs and economic growth, and saddling future generations with crushing debt:
- Total federal debt has increased by more than 50 percent since the president took office.
- Debt per person has increased from $34,731 to $50,876 since the president took office, and is now greater than that of Portugal, Italy, Spain, and Greece.
- Our federal debt now exceeds the entire annual economic output of the United States. This level of debt is projected to reduce economic growth by 1 percent, which would result in one million fewer jobs according to the president’s former top economic adviser.