[Congressional Record (Bound Edition), Volume 155 (2009), Part 8]
[House]
[Page 11055]
[From the U.S. Government Publishing Office, www.gpo.gov]




                              {time}  1015
                                DEBT DAY

  (Mr. PITTS asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. PITTS. Madam Speaker, Debt Day is the day on which the government 
runs out of money in a given year and all of the government spending 
for the rest of the year is borrowed money. For 2009, Debt Day fell on 
April 26, this past Sunday. This is an astonishingly early day in the 
year to run out of money. Last year, it was August 5. So in 4 months, 
this Congress and this administration has shattered all previous 
records for debt levels, moving Debt Day up in the calendar over 3 
months from last year. President Obama and this Congress make the Bush 
deficit look trivial.
  Friends, this is the most valuable and expensive credit card in 
history, a Member of Congress voting card. This Congress has taken out 
their credit cards and saddled our children and grandchildren with 
debt, mortgaging their future.
  Since the first of the year we've spent $350 billion in TARP, 
billions in auto bailouts, $787 billion in stimulus, $410 billion in 
omnibus, $3.5 trillion in the budget--mostly borrowed money--all of 
this debt dumped on future generations.

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