The Blog

'1,200 Days and $5 Trillion in New Debt Since Senate Dems Passed a Budget'

8:50 AM, Aug 10, 2012 • By DANIEL HALPER
Widget tooltip
Single Page Print Larger Text Smaller Text Alerts

Tomorrow will mark a milestone: It will be 1,200 days since Senate Democrats passed a budget, during which time Congress amassed $4.8 trillion in new debt.

Later today, the Republican side of the Senate Budget Committee will release this chart, detailing these startling numbers:

Congress has spent $11.2 trillion since passing its last budget on April 29, 2009, according to the Republican side of the Senate Budget Committee. The new debt since that date is $4.8 trillion.

"Since the last budget resolution was passed 1,200 days ago, the government has borrowed 42 cents of every dollar spent," the chart notes. The chart is  based on Treasury Department figures.

In a joint statement, Senate Budget Committee ranking member Jeff Sessions and House Budget Committee chair Paul Ryan mark the milestone.

“Tomorrow marks another disappointing record for the United States Senate: Senate Majority Leader Reid and his Democrat conference will have gone an unprecedented 1,200 days without adopting a budget plan as required by law," write Sessions and Ryan. "Not only have they failed to adopt a budget, but with America under threat of financial calamity, they have refused to even present a plan for public scrutiny. Last year, Majority Leader Reid said it would be ‘foolish’ to do a budget and the legally required Budget Committee mark-up was cancelled. No plan from his conference has seen the light of day. He refuses to disclose who he plans to tax and how he plans to spend taxpayers’ money."

This year, Senate Budget Committee Chairman Kent Conrad committed to bringing forth a budget plan and conducting a mark-up, and was shut down by the Majority Leader. Once again, the conference put forward no proposal and offered nothing on the Senate floor. The Senate Majority did not offer up a single plan or even cast a vote in support of a single plan. By contrast, House Republicans laid out and adopted a credible, responsible plan that avoids this looming debt crisis with spending cuts and pro-growth tax reform while preserving the safety net.

Never before has our nation needed a budget and a long-term financial plan as badly as it needs one now. The Congressional Budget Office stated this week that the federal government is on track to run another trillion-dollar deficit this year and our debt will continue to explode with this continued lack of leadership. In addition to huge deficits, we face a $4 trillion tax increase at the end of this year and a sequester that Defense Secretary Panetta said will ‘do catastrophic damage to the military.’ Responsible and moral leadership requires the Senate to meet its legal obligation to pass a budget and to begin to address the fiscal crisis that is fast approaching our nation.

Recent Blog Posts