[Congressional Record Volume 141, Number 196 (Monday, December 11, 1995)]
[Senate]
[Page S18313]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         THE BAD DEBT BOXSCORE

  Mr. HELMS. Mr. President, the Federal Government is running on 
borrowed time, not to mention borrowed money--nearly $5 trillion of it. 
As of the close of business Friday, December 8, the Federal debt stood 
at $4,988,945,631,994.24. On a per-capita basis, every man, woman, and 
child in America owes $18,938.12 as his or her share of the Federal 
debt.
  More than two centuries ago, the Constitutional Convention adopted 
the Declaration of Independence. It's time for Congress to adopt to a 
Declaration of Financial Independence and meet an important obligation 
to the public that it has ignored for more than half a century--that 
is, to spend no more than it takes in--and thereby begin to pay off 
this massive debt.

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