Candidates Speak on National Debt | VideoJessica Roose | 9/7/2012
Republicans and Democrats have been busy, trying to rally support for the November election. But while they`ve been holding conventions, the debt clock kept ticking and this week it surpassed $16 trillion.
"It`s really quite frankly a shameful moment in the United States as far as I`m concerned," said Republican House Candidate Kevin Cramer.
"Obviously, I think we`re on the wrong course. I think it`s an unsustainable course, we need to turn this around," said Democratic House Candidate Pam Gulleson.
Neither party wants to take the blame for such an immense debt, especially during an election year. According to the U.S Treasury, the debt sat at just over $10.6 trillion when the President first took office.
"Over $5.3 trillion of this $16 trillion debt has occurred just in the last four years and so it`s spiraling. The problem with that is we also are in a very bad economy, the two are completely related," Cramer said.
"We were dug a deep deep hole here, two major wars, significant tax cuts at a time when our nation was spending to be able to support those wars. It was an unsustainable path," Gulleson said.
Both candidates agree cuts need to be made and every agency needs to start lowering their budgets.
"There`s room to be able to make these cuts. That`s where I would start. I would really tell everyone that comes with their budget, which every single agency does. That they need to come prepared to make significant cuts, probably 10-percent over the next ten years," Gulleson said.
"One of the things I propose is we first of all roll back the federal budget to pre-tarp, pre-Obamacare, pre-stimulus, pre-bailout times," Cramer said.
He says that, along with the cuts, is what is needed to get the country back on track.
It`s sure to be a hot topic as we get closer to the election and candidates for both parties try to gain as many U.S House and Senate seats.