INDEPENDENCE, IA — As the national debt reached $16 trillion on Tuesday afternoon, the largest accumulation of debt in world history, U.S. congressional candidate Ben Lange announced a new TV ad entitled “Saving Our Future” which defines the 2012 election as a choice between sending the same old politicians back to Washington to kick the ‘same old can down the same old road’ or electing a new breed of leader willing to ‘pick up the can.’
As a father to three little girls, Lange has made national debt reduction the backbone of his campaign. In a scathing indictment of our modern political leadership, Lange penned an op-ed last April entitled “Why I’m Running” and stated at the time, “The current generation of political leadership, guided by vision that extends no further than their snouts and marked by a grade of cowardice foreign to the American experience, has all but declared war on the next generation.”
Lange’s opponent, Congressman Bruce Braley, a three-term liberal Democrat incumbent, has hung trillions of debt around the necks of future generations and was the only member of the Iowa delegation to vote against a Balanced Budget Amendment on the House floor.
As the debt clock ticked upward to $16 trillion on Tuesday, Lange reaffirmed his commitment to reducing the national debt by supporting, among other things, a Balanced Budget Amendment, capping total federal spending at 18 percent of GDP, capping federal discretionary spending at 2008 levels, and protecting Social Security and Medicare for current seniors while reforming these programs for future generations.
Lange’s ad is scheduled to run in the Cedar Rapids market through September 15th.
An fact sheet on how Braley’s reckless policies are bankrupting future generations is included below. (Click here to download the fact sheet.)
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AD SCRIPT: “America is going broke. Trillions in debt. Each child now owes $50,000 before they can even ride a bike. We face a clear choice that will determine the success of my daughters’ generation. Do we want to send the same old politicians back to Washington to kick the same old can down the same old road? Or do we want to elect new leaders with the courage to pick up the can? I’m Ben Lange and I approved this message because what the politicians are doing to our children just isn’t right and they deserve better.”
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Fact Sheet: Braley is Bankrupting Future Generations
1. Braley said he would reduce the national debt as his top priority.
- In one of his first TV ads, Braley promised Iowans that he would “reduce the deficit” as his highest priority. (National Journal, “Dix Now Playing for Team America,” May 16, 2006.)
2. But once in Washington, Braley voted for reckless economic policies.
- Braley voted for the largest spending bill in history that cost taxpayers $1.2 trillion and failed to create jobs promised by Braley and President Obama. (Pub. L. 111-5 (2009); CBO Letter, “Estimated Costs of Additional Debt Service That Would Result from Enacting H.R. 1,” Jan 27, 2009.)
- Their own economic analysis claimed it would reduce unemployment to 5.6% by the summer of 2012, instead unemployment has been above 8% for 42 consecutive months. (“The Job Impact Of The American Recovery And Reinvestment Plan,” Jan 9, 2009.)
- Braley voted to bailout Wall Street on the backs of the middle class and future generations to the tune of $12.8 trillion in new U.S. obligations. (PBS, “The true cost of the bank bailout,” Sept 3, 2010.)
- Braley voted for Obamacare which adds $17 trillion in unfunded liabilities. (Investor’s Business Daily, “ObamaCare Is Bending The Cost Curve Upward,” Apr 2, 2012.)
- Braley and the Democrats have created trillion dollar deficits in four consecutive years. (WhiteHouse.gov, Table 1.1, Historical Tables.)
3. Braley’s reckless spending has nearly doubled the national debt.
- Since Braley took office, the national debt has increased from $8.7 trillion to $16 trillion, an increase of $7.3 trillion. (U.S. Dept. of Treasury, Debt to the Penny, Sept 3, 2012.)
- The share of debt owed by a family of four in Iowa has skyrocketed from $116,000 to $212,000 (Calculation: National Debt/Population).
- The federal government now borrows 43 cents of every dollar spent, which is 4 times higher than at the end of the Carter administration. (Veronique de Rugy, “How Much of Federal Spending is Borrowed for Every Dollar?” George Mason University, July 11, 2011.)
- Braley voted to raise the debt ceiling 6 times without corresponding cuts (H.J.Res.43 (2007); H.R. 3221 (2008); H.R. 1424 (2008); H.R. 1 (2009); H.R. 4314 (2009); H.J.Res. 45 (debt portion deemed passed in the rule) (2010).)
- Braley was the only member of the Iowa delegation to vote against a Balanced Budget Amendment to the U.S. Constitution. (H.J. Res. 2 (2011).)
4. Braley’s failed economic policies have devastated younger generations.
- The unemployment rate for those ages 20 to 24 is 62% higher than the national average. (U.S. Bureau of Labor Statistics, Table A-10.)
- 53% of Recent College Grads Are Jobless or Underemployed (See Jordan Weissmann , “53% of Recent College Grads Are Jobless or Underemployed – How?,” The Atlantic, Apr 23, 2012.)
5. Ben Lange will stand up for future generations.
- Lange supports a Balanced Budget Amendment to the U.S. Constitution.
- Lange opposes debt-ceiling increases without a debt-reduction strategy.
- Lange supports capping federal spending at 18 percent of GDP.
- Lange supports capping federal discretionary spending at 2008 levels.
Lange supports securing Social Security and Medicare for future generations.
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