Washington, D.C. – Senator Ron Johnson (WI) made the following statement regarding the news that the federal government has incurred $15 trillion in debt:

“Today, the federal government exceeded $15 trillion in publicly-held debt.  Washington’s lust for spending and power jeopardizes the freedom and economic security of every citizen.  By the time the President finishes his first term, he will have promoted spending policies that will have increased our debt by $5 trillion in a mere 4 years.  Simply put, we are committing intergenerational theft. It is immoral and it needs to stop. 

“In 2008, Barack Obama promised the American people that he would enact a net reduction in federal spending, and cut the annual federal budget deficit in half. Instead, under his leadership, the United States has seen its first 3 annual deficits above $1 trillion. Our skyrocketing debt burden is not just bad luck; it is the predictable outcome of President Obama’s policies.

“This milestone is a reminder that it is time to change course. It is time for President Obama to deliver on the promises he made to the American people – to get our budget under control, and to reduce federal spending.”

According to the Treasury’s Bureau of Public Debt, the United States exceeds $15 trillion in debt.

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