WASHINGTON   –  June 30th was the third-most indebted day in the history of the U.S., Rep. Jo Ann Emerson (MO-08) said following the issuance of $166 billion increase in new debt by the federal government.  The total averages out to $1,500 in new federal debt per U.S. family.

“We’re literally spending the wealth of whole generations in a single day now,” Emerson said.  “Big government is out of control, and it is utterly unsustainable.  We have to reverse this course and fight the red ink – a $13 trillion national debt, a $1.6 trillion deficit this year, and then ten percent of that debt is issued in a single day.  The sheer size of these figures ought to make every American a little sick in the stomach.”

Emerson also faulted the flawed budget process of Democratic leaders in Congress, which this year will fail to produce a federal budget for the first time since the establishment of a budget committee in 1974.

“Despite the fact that there is no federal budget, that has not stopped congressional Democrats from proposing trillions of dollars in debt-financed spending for the next ten years.  It’s irresponsible to hide these spending decisions from the American people, and it will hurt our nation in the long term as well as in the short term,” said Emerson.