Today, Sen. Tom Harkin (D-IA) Said “No,” The Nation Does Not Have A Spending Problem. SEN. TOM HARKIN (D-IA): “Thank you, Madam Chair. I think, first of all, I want to disagree with those who say we have a spending problem. Everyone keeps saying we have a spending problem. And when they talk about that, it’s like there’s an assumption that somehow we as a nation are broke. We can’t afford these things any longer. We’re too broke to invest in education and housing and things like that. Well look at it this way, we’re the richest nation in the history of the world. We are now the richest nation in the world. We have the highest per capita income of any major nation. That kind of begs the question, doesn’t it? If we’re so rich, why are we so broke? Is it a spending problem? No.” (Committee On Appropriations, U.S. Senate, Hearing, 2/14/13)

The numbers tell a different story on spending and debt:

$46.2 Trillion: Total Federal Spending Proposed By Obama’s FY2013 Budget Through 2022. (OMB, 7/27/12)

$25. 4 Trillion: Projected Federal Debt In 2022 Due To Obama’s Binge Spending. (OMB, 7/27/12)

$16.5 Trillion:  Current National Debt ($ 16,480,910,656,603.96 ). (U.S. Treasury Department, Accessed 2/7/13)

$9.2 Trillion:  Amount Obama’s FY2013 Budget Would Add To The Debt Through FY2022. (OMB, 7/27/12)

$7 Trillion: Cumulative Deficits Over FY2013-2022. (CBO, 2/5/13)

$5.9 Trillion:  Added To The National Debt Since Obama Took Office. (U.S. Treasury Department, Accessed 2/7/13)

$5.3 Trillion: Total Interest Payments On The National Debt Due To Obama’s Proposed Budget, FY2013-2022. (OMB, 7/27/12)