[Congressional Record Volume 142, Number 49 (Wednesday, April 17, 1996)]
[Senate]
[Page S3427]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         THE BAD DEBT BOXSCORE

  Mr. HELMS. Mr. President, I have mentioned many times that memorable 
evening in 1972 when the television networks reported that I had won 
the Senate race in North Carolina.
  At first, I was stunned because I had never been confident that I 
would be the first Republican in history to be elected to the U.S. 
Senate by the people of North Carolina. When I got over that, 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.
  I have kept that commitment and it has proved enormously meaningful 
to me because I have been inspired by the estimated 60,000 young people 
with whom I have visited during the 23 years I have been in the Senate.
  A large percentage of them have been concerned about the total 
Federal debt which recently exceeded $5 trillion. Of course, Congress 
is responsible for creating this monstrous debt which coming 
generations will have to pay.
  Mr. President, 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.
  That is why I began making these daily reports to the Senate on 
February 25, 1992. I decided that it was important that a daily record 
be made of the precise size of the Federal debt which, at the close of 
business yesterday, Tuesday, April 16, stood at $5,142,250,889,027.95. 
This amounts to $19,430.38 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, 
April 15, 1996--shows an increase of more than two billion dollars 
$2,239,481,250.00, to be exact. That 1-day increase is enough to match 
the money needed by approximately 332,070 students to pay their college 
tuitions for 4 years.

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