For Immediate Release:
November 18, 2011
NRSC Press Office
As Nat’l Debt Hits Record $15 Trillion, Liberal Heinrich Says No To Balancing Federal Budget
Instead, Wants To Continue With Reckless, Historic Spending Spree
WASHINGTON — Just one day after the national debt hit a record-high $15 trillion, liberal Congressman Martin Heinrich voted against balancing our federal budget, instead preferring to continue rubber-stamping President Barack Obama’s reckless spending spree in what CBS News reports is “the most rapid increase in the debt under any U.S. president.”
Notably, today’s $15 trillion debt represents more than $48,000 in debt for every American man, woman and child — a 41 percent increase since Heinrich first came to Washington in January 2009 with our national debt at $10.6 trillion.
“While families and businesses in New Mexico make hard choices and live within their means, Martin Heinrich thinks Washington should continue its reckless spending spree and keep racking up debt at a record pace with no accountability,” said National Republican Senatorial Committee (NRSC) spokesman Jahan Wilcox today. “Heinrich’s reckless, liberal fiscal agenda isn’t just outside the mainstream of his state, it’s dangerous for our country and for future generations who will have to pay for her irresponsible government spending in Washington.”
THE NATIONAL DEBT HAS HIT THE $15 TRILLION MARK
- The National Debt Is Now $15.0 Trillion Dollars. (US Department Of The Treasury, TreasuryDirect.gov, Accessed 11/16/11)
- Since President Obama Took Office And Senate Democrats Rubberstamped His Spending Agenda, The National Debt Has Risen $4.4 Trillion, An Increase Of Over 41 Percent. (US Department Of The Treasury, TreasuryDirect.gov, Accessed 11/16/11)
HOW MUCH IS $15 TRILLION?
- $15 Trillion Is More Than The Value Of All The Goods And Services Produced In The United States Last Year. (“Gross Domestic Product,” Bureau Of Economic Analysis, BEA.gov, Accessed 11/3/11)
- In FY2010, The Bureau Of Engraving And Printing Produced $974 Million Worth Of Currency. At That Rate, It Would Take 15,400 Years To Print $15 Trillion. (“Annual Production Figures,” Bureau Of Engraving And Printing, Accessed 11/3/11)
- It Would Take The Average Household Over 300 Million Years To Pay Off The National Debt On Their Own.(Press Release, “Income, Poverty and Health Insurance Coverage in the United States: 2010,” US Census Bureau, 9/13/11)
- To Pay Off $15 Trillion In Debt, The Federal Government Would Have To Devote Every Dollar Of Revenue To Paying Off The Debt For 6.5 Years. (“Monthly Budget Review,” Congressional Budget Office, 10/7/11)
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The Obama administration’s economic failure is hurting jobs - New Mexicans need new leadership nationally that will focus on empowering job creators and reinvigorating our economy.
Governor Martinez has successfully focused on improving the economy and expanding opportunity for working class New Mexicans here at home. Perhaps the President should be taking notes.
There is less than #oneyear until election day. For jobs and for future prosperity, we must redouble our efforts to ensure that Barack Obama is a one term president.
The overall unemployment rate fell to 9 percent, but the Latino unemployment rate went up to 11.4 percent. (Getty Images)
The unemployment rate in the U.S. fell to 9 percent in October but the economy only added 80,000 jobs, according to a Bureau of Labor Statistics report released Friday.
Despite that positive movement, the unemployment rate for Latinos ticked upwards to 11.4 percent.
The October job-creation numbers were less than expected; economists predicted job growth to top 100,000. Still, the report contained some good news. The number of jobs created in September was revised upward from 103,000 to 158,000 and the August number was actually 104,000, instead of the projected 57,000.
And the amount of long-term unemployed, those without a job for 27 weeks or longer, fell by 366,000 in October to 5.9 million, or 42.4 percent of the total amount of unemployed.
The uptick in Latino unemployment could have been driven by mixed results in sectors that employ large amounts of Latinos.
- ANCHOR: Governor Susana Martinez paid a visit to Santa Teresa this afternoon -- along with the Governor of Chihuahua. The meeting of the minds was to find better ways for the US And Mexico to work together. Abc-7 was the only American tv station to cover the visit. Reporter Gaby Loria is live in Santa Teresa from our New Mexico mobile newsroom with more.
- REPORTER: We caught up with Governor Susana Martinez after she took a tour of this area with Chihuahua state governor Cesar Duarte... ...they say both countries face challenges that need to be addressed through meetings like today's.
- SUSANA MARTINEZ: "We want to make sure that of course our borders are safe from individuals that come here for the mere intent of committing crimes or on the United States side, trafficking firearms to Mexico."
- REPORTER: Both governors are part of the New Mexico- Chihuhua commission... ...tasked with finding ways of boosting economic development and improving relations. We asked which specific goals the governors discussed this afternoon... Martinez says issues relating to commercial imports and exports are a priority... ...they're looking to improve railways, add more express lanes to ports of entry, and shorten delays as a way to make trade more efficient... She also suggested working with the Mexican government to speed up the vehicle inspection process.
- MARTINEZ: Why don't we consolidate the inspection if we're looking for same thing, so it would not be an increase in any kind of increase in employees. It would just be doing it together for the same purpose"