FOR IMMEDIATE RELEASE: August 24, 2011
CONTACT: Genevieve Frye Rozansky
So Just How Broke Are We?
Mesa, Arizona – Republican Congressman Jeff Flake, who represents Arizona’s Sixth District, today illustrated the size and scope of the growing national debt.
On Saturday, reality TV darling Kim Kardashian tied the knot with New Jersey Nets player Kris Humphries in a lavish and costly event. The wedding cake alone, which served more than 400 guests, is said to have cost approximately $20,000.
The U.S. is so broke that based on the cost of Kardashian’s main dessert and the number of cake pieces it contained, our debt of $14.4 trillion could buy enough cake to feed 288 billion people.
“When it comes to solving our debt crisis, Congress wants to have its cake and eat it too,” said Flake.
Along with Senators McCain and Rubio, Congressman Flake introduced H.R. 634, the Debt Buy-Down Act, which allows taxpayers to designate up to 10 percent of their federal income tax liability to reduce the national debt. The bill then requires Congress to reduce federal spending by that amount. More information on the Debt Buy-Down Act can be found here.