[Congressional Record Volume 141, Number 176 (Wednesday, November 8, 1995)]
[Senate]
[Pages S16816-S16817]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         THE BAD DEBT BOXSCORE

  Mr. HELMS. Mr. President, on that evening in 1972 when I first was 
elected to the Senate, I made a commitment to myself that I would never 
fail to see a young person, or a group of young people, who wanted to 
see me.
  It has proved enormously beneficial to me because I have been 
inspired by the estimated 60,000 young people with whom I have visited 
during the nearly 23 years I have been in the Senate.
  Most of them have been concerned that the total Federal debt which is 
about $15 billion shy of $5 trillion--which will be exceeded this year. 
Of course, Congress is responsible for creating this monstrosity for 
which the coming generations will have to pay.
  The young people and I almost always discuss the fact that under the 
U.S. Constitution, no President can spend a dime of Federal money that 
has not first been authorized and appropriated by both the House and 
Senate of the United States. 

[[Page S 16817]]

  That is why I began making these daily reports to the Senate on 
February 25, 1992. I wanted to make a matter of daily record the 
precise size of the Federal debt which as of yesterday, Tuesday, 
November 7, stood at $4,985,913,011,032.65 or $18,926.61 for every man, 
woman, and child in America on a per capita basis.
  The increase in the national debt since my report yesterday--which 
identified the total Federal debt as of close of business on Monday, 
November 6, 1995--shows an increase of $1,175,550,073.33. That increase 
is equivalent to the amount of money needed by 174,311 students to pay 
their college tuitions for 4 years.

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