Statements about Debt

"It isn't me cutting the budget. It's the Congress' decision on sequestration. So it isn't secretary of defense or the president doing this."

Under current policies, "we're going to reduce the overall debt of the United States by $3 trillion over the next 10 years."

"Woodrow Wilson borrowed $30 billion to fund World War I in 1917. That money has not been paid back. And we are still paying interest on it."

Says under President Barack Obama, the debt increased by 23 percent, which was less than under any president going back to Ronald Reagan.

"We went from $160 billion deficit spending in (President George W.) Bush's last year to $1.6 trillion the following year."

In a budget deal struck in 2011 "a trillion dollars of cuts went into effect immediately, and then a special committee was set up ... to get agreement on another $3 trillion of cuts."

Says if Congress doesn’t avoid the sequester, "tens of thousands of parents will have to scramble to find child care for their kids."

"We borrow $4 billion every single day, much of it from China."

President Barack Obama’s "spending drove us $5 trillion deeper in debt."

"Over the last four years, the deficit has gone up, but 90 percent of that is as a consequence of" President George W. Bush’s policies and the recession.

There has been "$5 trillion in debt added over the last four years."

Says Romney would add "trillions" to the deficit while Obama would "cut the deficit by $4 trillion."

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