[Congressional Record Volume 142, Number 123 (Tuesday, September 10, 1996)]
[Senate]
[Page S10155]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                       THE VERY BAD DEBT BOXSCORE

  Mr. HELMS. Mr. President, in February 1992, it occurred to me one day 
after reading some mail from people in North Carolina that the Senate 
wasn't paying very much attention to the steadily rising Federal debt, 
and I decided on that February afternoon in 1992 that I would begin a 
daily report to the Senate specifying the exact Federal debt as of 
close of business the day before down to the penny. Of course, on 
Monday it would have to be close of business the previous Friday.
  We have not missed a day in making that report. There have been a few 
times when I was absent when fellow Senators made the report for me.
  In any case, Mr. President, at the close of business yesterday, 
Monday, September 9, the Federal debt of the United States stood at 
$5,214,144,675,542.25.
  Five years ago, on September 9, 1991, the record shows that the 
Federal debt stood at $3,618,482,000,000 rounded off.
  And 10 years ago, September 9, 1986, the Federal debt stood at 
$2,106,631,000,000.
  Just for the interest in it, we checked the Federal debt of 15 years 
ago--that was September 9, 1981--at which time the Federal debt stood 
at $977,439,000,000.
  So those figures alone will show you the escalation of the spending 
practices of the Congress of the United States, and all the 
irresponsibility of that lies like a dead cat on the doorstep of the 
Congress of the United States, where I work and where Members of the 
House of Representatives work.
  Twenty-five years ago, if you want to go back that far, on September 
9, 1971, the Federal debt stood at $415,807,000,000. This report 
reflects an increase of more than $4 trillion in Federal debt during 
the 25 years from 1971 to 1996. If you want the precise figure, the 
Federal debt has increased during the past 25 years by 
$4,798,337,675,542.25.
  Mr. President, this is a perfect outrage imposed upon the next 
generation and the next generation after that and the next generation 
after that, because they are the ones who are going to have to pay this 
debt. They are going to have to pay the interest on it, which is 
enormous. We have all of these promising politicians running around the 
countryside these days promising everything under the Sun for the 
taxpayers to pay for, which means that it will be bought on credit and 
not a thing will be done about this Federal debt. That is precisely why 
in February 1992 I began to make these reports.
  I might add as a matter of interest, Mr. President, that one day when 
I came to make this report, I stopped in the cloakroom and Senators 
were waiting for a rollcall vote that had been scheduled by unanimous 
consent about 10 minutes hence. Just to see what the answers would be, 
I asked Senators how many million there were in a trillion. They 
scratched their heads, and I got two or three different answers. Only 
one of them was correct. Of course, as every schoolboy knows, or is 
supposed to know, there are a million million in a trillion, and the 
coming generations are going to have to deal with $5 million million-
plus in debt run up by the Congress of the United States.
  I thank the Chair. I yield the floor, and I suggest the absence of a 
quorum.
  The PRESIDING OFFICER. The clerk will call the roll.
  The legislative clerk proceeded to call the roll.
  Mr. SHELBY. Mr. President, I ask unanimous consent that the order for 
the quorum call be rescinded.
  The PRESIDING OFFICER. Without objection, it is so ordered.

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