Debt grew $1.1 trillion in 2014, not $484 billion

Feb. 2, 2015, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement in response to the latest White House budget proposal for FY 2016:

“It is indeed mindless to be lectured on the need to end austerity by a President who has seen the national debt increase by more than $8 trillion since he became President.  It is equally ironic that while the President pointed to a budget deficit that has dropped to under $500 billion from in excess of $1.4 trillion during the early years of his presidency, he fails to recognize that in the same fiscal year, the national debt skyrocketed by justshy of $1.1 trillion, according to the U.S. Treasury.  He also fails to acknowledge that if over the past four years Congress had followed his path, the federal government would have continued to increase spending without regard for the long-term damage being done to our nation’s fiscal solvency.

“Now, President Obama pushes forward a $4 trillion budget proposal that makes no pretense of ever reaching balance, and is an extension of his stated desire to fundamentally transform America by further expanding the size and scope of the federal government.  While Obama’s budget is a meaningless document, and all of the real budget battles will be fought over the appropriations bills, it is truly a shame that the President has waved the white flag in the fight to restore fiscal sanity to the federal government, and in doing so, has ensured that those who depend upon social safety net programs will face a dire future as more and more of the budget is eaten up by unavoidable interest payments on the debt.”

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