FreedomWorks Reacts to New Debt Milestone: $100,000 per second

Washington, D.C. – In response to the news that the U.S. government now increases its debt by $100,000 per second, Adam Brandon, FreedomWorks president, commented:

“Washington has reached a new level of irresponsibility. According to Joint Economic Committee Chair Rep. David Schweikert’s daily debt monitor, we are now increasing our national debt by $100,000 per second. Yes, per second. As if that news wasn’t alarming enough, Bloomberg Economics recently ran a million simulations to asses America’s debt trajectory. It found that in 88 percent of them, we fall off the fiscal cliff into what I can only imagine is a wasteland of dead empires and abandoned Blockbuster Video stores.”

“That being said, there is good news. It turns out 65% of young people, 18- to 49-year-olds, want to ‘reform’ or ‘modernize’ the two biggest drivers of our debt spiral, Social Security and Medicare. They aren’t stupid. They see the numbers and understand if we do nothing, these programs will be insolvent by 2033. Now is the time to follow their lead and do something. Kicking the can is irresponsible and according to Bloomberg, an 88 percent chance of our fiscal demise.”

FreedomWorks exists to mobilize the principled center and politically homeless in America who do not feel their values of fiscal responsibility, social tolerance, and individual liberty are being represented in political discourse today. We seek to restore common sense and competence to public policy and American political life.