Federal debt per household has gone up by $43,000 since Senate’s last budget three and a half year ago
Federal debt per household has increased by nearly $43,000 to $133,869 in the three and a half years since Senate Democrats last passed a budget, according to an analysis of Treasury data by the Senate Budget Committee’s Republican staff.
“The last time the United States Senate adopted a budget resolution was April 29th, 2009. Every year, federal law requires the Senate to present a budget in the Budget Committee for adoption, and to then bring that budget to the Senate floor for open and public amendment, debate, and eventual adoption,” said a Senate Budget Committee Republican staff press release on Thursday.
“Yet, in a time of record deficits, weak economic growth, and an historic surge in federal welfare, it has now been more than three and half years since the Senate’s Democrat majority has put forward a budget. In that time, the government has spent $12.1 trillion and added an additional $5 trillion to the gross federal debt.” (RELATED: Senate Democrats fail to pass budget after three years)
Senate Majority Leader Harry Reid and Senate Democrats “refused to even write a budget,” said the release. “Thus, in 2011 and in 2012, the mandated Budget Committee mark-ups to work on a budget were cancelled by the Senate Majority—in violation of federal law—and no plan was ever presented to the American people by the party controlling the Senate chamber.”
Federal per-household debt also soared under former President George W. Bush. Government debt per household increased sharply to nearly $87,000 in 2008, according to a study by the Economic Freedom Network.