Congressman Tom Price (R-GA) issued the following statement noting that the total outstanding public debt has increased by more than $1 trillion since President Obama took office on January 20, 2009. Click here to obtain up-to-date figures.

“Facts are stubborn things, as President Obama well knows,” said Congressman Price. “And the facts show that the national debt has already increased by nearly ten percent since his inauguration. The unsustainable deficit spending this President has overseen illustrates the absolute absurdity of his claims of fiscal responsibility. The President’s disregard for the real consequences of this unprecedented borrowing is as dangerous as it is irresponsible. While President Obama and his allies in Congress continue to ignore the difficult choices that must be made to return to responsible budgeting, the Republican Study Committee has offered a budget proposal that would balance by 2019 and begin to turn back the tide of this spending tsunami.”

NOTE: The Republican Study Committee proposed a balanced budget that would have provided $1.2 trillion in tax relief. It also included provisions to end bailouts, reduce non-defense discretionary spending, and tackle health entitlements. The RSC budget would have reduced the national debt by more than $6 trillion compared to the President’s plan. More information can be found here.