Wednesday, April 10, 2013

LaMalfa: Spending is 'unsustainable'

The north state's Rep. Doug LaMalfa on Tuesday toured the Bureau of Public Debt, where U.S. Treasury securities are auctioned off to fund the federal government’s borrowing. Afterward, he issued the following statement:
“At about four billion dollars per day, the speed at which our nation is borrowing money is simply astounding. [Yesterday] I saw government workers literally increasing the public debt as fast as possible, adding to the burden that our children and grandchildren will be forced to repay. As the President prepares to release his budget [today], a plan which never balances, today’s visit was a stark reminder that the government’s rate of spending is simply unsustainable.”

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