[Congressional Record Volume 141, Number 161 (Wednesday, October 18, 1995)]
[Senate]
[Page S15294]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         THE BAD DEBT BOX SCORE

  Mr. HELMS. While we are waiting, Mr. President, let me mention that 
since February 1992, I have each day the Senate has been in session 
reported to the Senate the exact total of the Federal debt as of the 
day before the close of business, or in the case of Mondays the 
previous Friday. I call it the bad news about the Federal debt, and 
today's news about the Federal debt is pretty bad.
  Before we have ``another go,'' as the British put it, with our little 
pop quiz that I so often have, I hope Senators will remember one 
question, one answer, about this $5 trillion debt that the Congress of 
the United States has run up for future generations to pay off. That 
one question on my pop quiz is: How many millions of dollars would it 
take to add up to $1 trillion?
  While anybody within earshot is thinking about that, I would suggest 
that we bear in mind that it was the U.S. Congress, where I work--here 
and the House of Represenatives on the other side--that ran up this 
Federal debt that now exceeds $4.9 trillion. We are going to hit $5 
trillion before this year is out. And these young people who are 
serving as pages, their generation and generations following them, will 
be struggling to pay off the debt. Every day that we fail to balance 
the Federal budget runs the debt up further.
  All right, what about the total Federal debt as of the close of 
business yesterday, October 17? The total Federal debt down to the 
penny stood at $4,968,953,453,657.73. Now, this figure is not far from 
$5 trillion.
  Another depressing figure discloses that on a per capita basis, 
assuming that every man, woman, and child would accept and pay off 
somehow his or her share of the debt--and we know that only about half 
of the people, men, women, and children, will in fact pay any taxes at 
all, but if everybody had a share and paid it off, it would amount to 
$18,862.23 per man, woman, and child.
  Now, then, remember the question that I asked in my little pop quiz? 
How many million in $1 trillion? There are 1 million million in $1 
trillion. That gives you some idea of the enormity of the debt and the 
enormity of the irresponsibility of the Congress during the past 
generation or more.
  I suggest the absence of a quorum, awaiting wrap-up information.
  The PRESIDING OFFICER. The clerk will call the roll.
  The bill clerk proceeded to call the roll.
  Mr. HELMS. For the final time this afternoon, I ask unanimous consent 
that further proceedings under the quorum call be dispensed with.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  Mr. HELMS. I thank the Chair.

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