U.S. debt surpasses Gross Domestic Product
LAKE JACKSON, Texas— Today, Ron Paul 2012 Campaign Manager John Tate released the following statement regarding the news that the federal debt now exceeds the Gross Domestic Product of the United States.
"For far too long, Congress and Presidents have played budgetary tricks on the American people by pretending we could trim around the edges and still afford endless expenditures on entitlements and foreign interventions. Ron Paul's 'Plan to Restore America' confronts our debt crisis head-on by cutting $1 trillion in his first year and delivering a fully balanced budget by his third year.
"We can no longer afford politicians who play games with America's future. As President, Ron Paul will treat the American people with the respect they deserve by being honest about our nation's situation and implementing fundamental reforms to return America to prosperity."
Ron Paul, Ron Paul Campaign Press Release - Ron Paul Campaign Issues Statement on Federal Debt News Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/299127