Press release from the Tom Hayhurst for Congress campaign:
Bipartisan commission declares U.S. debt a cancer
A presidential bipartisan national debt commission laid out a bleak picture Sunday as the U.S. struggles to get its debt under control. The commission described a troubled future and if the culture of spending doesn’t change, the U.S. will be spending $2 trillion a year by 2020 just for interest on national debt.
“Next year, our nation’s federal debt is expected to exceed $14 trillion-about $47,000 for every U.S. resident. This is unacceptable. It is time we seriously discuss a federal balanced budget amendment. I see too many self-centered career politicians that care more about spending our children’s future away in Washington than about the hard working folks here in Indiana,” said Hayhurst.
The bipartisan report suggested that the majority of the United States’ discretionary spending is consumed by Medicare, Medicaid and Social Security. It further suggested that rest of our discretionary budget is being financed by China and other countries. China alone holds $920 billion in U.S. IOUs.
“These are tough times, and the difficult issues we face test us all,” said Hayhurst. “Every ounce of our energy must be focused on turning the economy around, creating good jobs, and of equal importance, getting a handle on federal spending. I’m ready to work across party lines and to be an Independent, bipartisan voice focused on tackling these issues and more. That’s why I am running for Congress,” said Hayhurst.