$16,000,000,000,000.00 ($16 Trillion)

Matt Rhoades, Campaign Manager, Romney for President, Inc.: It’s happened. The National Debt just hit $16 trillion. By his own measurement, President Obama has failed. The runaway spending of this presidency has got to stop.

Remember the below email that Mitt Romney sent on August 26, 2011? In it, he warned that President Obama's runaway spending was about to saddle Americans with a $15 trillion debt.

Friend,

In 2008, when he was running for president, Barack Obama had some harsh words for the White House for running up the national debt, even calling President Bush "irresponsible" and "unpatriotic." Here's what he said in full:

"The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents - number 43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back - $30,000 for every man, woman and child. That's irresponsible. It's unpatriotic."

After three years of Barack Obama in the White House, the national debt, thanks to a near-trillion-dollar "stimulus" that failed to stimulate, thanks to out-of-control spending on a liberal agenda, and thanks to a great deal of government waste, is now at almost $15 trillion or over $130 thousand per taxpayer.

Why was stimulus money used to repair tennis courts? Why was it used to study the learning patterns of honey bees? Why was it used to build an "eco-passage" to help turtles cross a highway? Those who made such decisions have definitely been irresponsible, even reckless with their out of control spending.

Americans deserve better, much better. That's why I'm running for president.

I hope I'll have your support.

Best,
Mitt Romney

And lo and behold, just over a year later, we've now surpassed a staggering $16 trillion in debt!

It's unacceptable, and frankly, it's scary. And now it's time to stop the bleeding. Watch this video to learn more.

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