Where I Stand

$9 TRILLION IN DEBT. SERIOUSLY?

Tennesseans pay dearly for the debt run up during the Bush/Alexander era. As tough as your checkbook may be to balance, consider the federal balance sheet:

Even though President Clinton handed him a $236 billion budget surplus, President Bush and the budget-busting Republicans in Congress turned that surplus into a $163 billion deficit that spends more money than the previous 42 administrations COMBINED.

It leaves our nation almost $9 trillion in debt - much of it owed to nations such as China, Japan and Dubai. That equates to $30,000 for every American. Interest alone was more than $400 billion in 2006 and could go to $645 billion by 2017 - leaving an even larger burden on our children.

I urge Tennesseans to stand with me: I'll see that your hard-earned money won't be spent on the priorities of the few but on your priorities, and that includes paying down the debt. For example, in the U.S. Senate, I will not vote to raise the federal debt limit and will work to restore pay-as-you go financing.

POINTS FOR TENNESSEANS TO THINK ABOUT:

  • President Clinton handed off a $236 billion budget surplus to George W. Bush, but he and Republicans in Congress now have it $163 billion in the red.
  • For Republicans like Senator Alexander, the spending priorities include a misguided war and tax cuts for special interests and multimillionaires.
  • The nation is nearly $9 trillion in debt, and a lot of it is owed to nations like China, Japan and Dubai.
  • That kind of money doesn't come free. Interest on our debt stood at $405.9 billion in 2006 and likely will climb to $645 billion by 2017.
  • If the debt were divided up equally, it would come to $30,000 for every American man, woman and child.
  • But the burden of the debt isn't being spread around: Thanks to their Bush/Alexander tax cuts, a wealthy few not only don't bear any of the burden; they actually come out ahead. Middle-class Americans, on the other hand, end up carrying the load.

    • Stand with me, and I will help change they way we spend money in Washington, making it fair and responsible without dumping crippling debt on our children.

I Want to Hear from You!