Washington, D.C. – U.S. Senator Rob Portman (R-Ohio) today released the following statement on the U.S. national debt topping $16 trillion for the first time in history:

“America has long shone as a beacon of hope and opportunity, where one’s past does not dictate one’s future.  Today, for the first time in our nation’s history, our debt has soared to $16 trillion, a dangerous milestone and yet another sign that our country is going down a very different path than it was when our ancestors came in search of the American dream.  If we do not take swift measures to get our fiscal house in order, today's economy will continue to suffer and future generations will be unfairly weighed down by Washington’s irresponsible fiscal policies.  Washington is feverishly borrowing and spending money that we do not have, and our children and grandchildren will be forced to pay the leftover bills from this continued spending spree.  Failure to address our problems now will burden future generations and hinder their chances of prosperity.

“This debt will not only be a liability for our kids and grandkids, but economists also tell us that it will limit economic growth and kill millions of jobs now and in the future.  Families in Ohio and across the nation are suffering through the worst recovery since the Great Depression.  They are looking for real leadership to cut spending, streamline government, and finally get us on a path toward a balanced budget.  The success of future generations depends on it, and I will keep fighting for a responsible budget, and for the combination of good, pro-growth policies and commonsense spending restraint to get Ohio and the country back on track.”