Pay As You Go To Help National Debt, As It Stands At $13 Trillion

Congress may be on holiday break this week, but there's no break in the steady increase of the national debt--which now stands at $13 trillion!

It took the federal government more than 200-years to reach $1 trillion in debt.

But recently it only took six months to rack up $1 trillion of debt!

President Obama signed a law called the Pay As You Go Act back in February, which told lawmakers they couldn't spend a dollar unless they cut a dollar elsewhere.

"How can you expect to have any credibility talking about debt and deficit when we continue to see such high levels of deficit spending?" Jonathon Karl asked Senate Majority Leader Harry Reid.

"First of all, we have initiated the PAYGO rules. I think we deserve a lot of credit for that," Senator Reid responded.

Congress has passed about $230 billion in new spending since February that has not been paid for.


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