[Congressional Record Volume 144, Number 43 (Monday, April 20, 1998)]
[Senate]
[Page S3276]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                       THE VERY BAD DEBT BOXSCORE

  Mr. HELMS. Madam President, last week we passed Tax Day 1998. All 
across the nation, the IRS reported millions of taxpayers suffered 
confusion and animosity over filing their 1997 taxes. While no 
confusion exists--in fact, the financial amount is too clear--every 
man, woman and child should feel animosity at the more than $20,000 
bill issued them to pay off the federal debt.
  In the same vein, Mr. President, May 10th will be Tax Freedom Day 
1998. While the name speaks for itself, Tax Freedom Day was not always 
such a landmark day because the federal debt was neither so monstrous 
nor so cumbersome. Tax Freedom Day comes one day later than last year.
  It is fortunate that so many reminders that the federal debt will 
continue to escalate unless and until Congress restrains its desire to 
spend, spend, spend. Hopefully one day Congress will wake up.
  Madam President, with this in mind, let's begin where we left off:
  At the close of business Friday, April 17, 1998, the federal debt 
stood at $5,512,826,076,386.32 (Five trillion, five hundred twelve 
billion, eight hundred twenty-six million, seventy-six thousand, three 
hundred eighty-six dollars and thirty-two cents).
  One year ago, April 17, 1997, the federal debt stood at 
$5,350,647,000,000 (Five trillion, three hundred fifty billion, six 
hundred forty-seven million).
  Twenty-five years ago, April 17, 1973, the federal debt stood at 
$455,209,000,000 (Four hundred fifty-five billion, two hundred nine 
million) which reflects a debt increase of more than $5 trillion--
$5,057,617,076,386.32 (Five trillion, fifty-seven billion, six hundred 
seventeen million, seventy-six thousand, three hundred eighty-six 
dollars and thirty-two cents) during the past 25 years.

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