Despite $15 Trillion in Debt, Dems Think “Now Is Not the Time” to Balance D.C.’s Budget

Washington — Despite its wide popularity among voters, Mike Michaud caved to pressure from his Democrat leaders and opposed the balanced budget amendment today. Even though the Democrats’ spending spree under President Obama has been the most rapid increase of government debt in American history, Michaud and his Democrat colleagues decided “now is not the time” to give up their addiction to spending.

“When given the choice today, Mike Michaud demonstrated that he is still not willing to take action on the country’s skyrocketing $15 trillion debt burden that is threatening to make a bad economy much worse,” said NRCC Communications Director Paul Lindsay. “Instead of siding with vast majority of Americans who support a balanced budget amendment to have Washington finally live within its means, Michaud continues to defend his spending and borrowing spree that shows no signs of relenting.”

President Obama and his Congressional Democrat allies have presided under the most rapid increase in debt in American history:

“The debt was $10.626 trillion on the day Mr. Obama took office. The latest calculation from Treasury shows the debt has now hit $14.639 trillion. It’s the most rapid increase in the debt under any U.S. president.” (Mark Knoller, “National debt has increased $4 trillion under Obama,” CBS News’ Political Hotsheet Blog, 8/22/11)

This week, this skyrocketing debt exceeded $15 trillion:

“The total public debt outstanding was listed at $15,033,607,255,920.32 on Wednesday afternoon, with two thirds of that debt held by the public and one third made up of intergovernmental holdings.” (Brian Montopoli, “National debt crosses $15 trillion mark,” CBS News’ Political Hotsheet Blog, 11/16/11)

American voters widely approve of a balanced budget amendment, 74 percent to 24 percent. (CNN|ORC Poll, 7/21/11)

But instead of recognizing fiscal reality, Democrat leaders dug in their heels and said “now is not the time” for a balanced budget amendment:

“House Minority Whip Steny Hoyer, D-Md., said that although he has supported a constitutional amendment to require a balanced budget in 1995, now is not the time.” (Gregory Korte, “House Dems will block balanced budget amendment,” USA Today’s On Politics Blog, 11/4/11)

Mike Michaud had a chance to support meaningful fiscal reform today, but instead he decided to continue his Democrat spending spree that is ushering in a fiscal catastrophe. If Michaud thinks the debt surpassing $15 trillion is not the time for a balanced budget amendment, then what is?