Policy: Budgets & Deficits

Sen. Tom Coburn cuts up giant credit card on the Senate floor

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Beltway Confidential,Charlie Spiering,Senate,Debt Ceiling,Waste and Fraud,Tom Coburn,Budgets and Deficits,Credit Cards

Sen. Tom Coburn, R-Okla., cut up a giant poster of a credit card on the Senate floor Tuesday, saying it demonstrated why Washington politicians must end their addiction to spending money they don't have.

"Our country is bankrupt," Coburn said. "People don't like to hear that, but let me give you what the facts are. The total unfunded liabilities of the United States of America are $126 trillion."

Taking a pair of scissors, Coburn proceeded to cut and tear the poster into pieces.

"We need to cut this up, just like you do for an adolescent or young adult kid that you're responsible for the credit card. If they are not responsible, you cut up the credit card. You fix the real problem," he said.

"You don't continue asking for an increase in their profligate spending. You don't continue to reward members of congress who won't do oversight and get rid of a quarter trillion dollars worth of fraud, waste and abuse every year."

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