Indianapolis, IN-- Senator Evan Bayh spoke out against fiscal irresponsibility in Washington today, explaining why he was the only Senate Democrat last week to vote against a federal budget that would add at least $2 trillion to America’s ballooning national debt over the next five years. Despite Bayh’s “no” vote, the budget passed the Senate by a vote of 51-44.

“Washington is broken,” Bayh said at a news conference today. “Families are tightening their belts. Businesses are tightening their belts. But the federal government is not. Those on the far right want more tax cuts for the wealthiest Americans. Those on the far left want us to spend money we don’t have and continue to borrow from China. Neither of these is the right course.”

Bayh said it is time to turn the page on the Bush administration’s record of fiscal recklessness and called on Republicans and Democrats to work together to reverse the fiscal direction of this country.

The budget Senator Bayh opposed projects that America’s gross national debt will reach $11.5 trillion in 2013. Today, the amount of U.S. debt held by foreigners is at an historic high, with foreign investors holding 46 percent of America’s publicly held debt.

“If we gave a credit card to every American child with an equal share of the national debt, each of our kids would have $120,000 of debt on that card,” Bayh said. “If we continue at this pace of spending in Washington, we risk becoming the first generation to leave our children with a country less than we inherited.”

According to the Office of Management and Budget, Congress spent nearly $17 billion last year on pet projects known as “earmarks.” During a string of late-night votes that did not end until 2 a.m. Friday, Bayh voted for a one-year moratorium on pork-barrel spending, but the measure failed.

Bayh also voted to fund a commission to examine cuts in wasteful government programs and to examine the growing costs of entitlement programs. That measure passed by a single vote. If enacted, the commission would have special powers to fast-track legislation through Congress to bypass gridlock and entrenched interests.

Bayh has been a longtime crusader for fiscal responsibility. In 2006, he introduced the Pork Barrel Reduction Act to make it more difficult for unauthorized earmarks to be inserted into legislation. He also cosponsored legislation requiring all earmarks to be disclosed 72 hours before they could be considered by the full Senate.

He has been a strong supporter of “pay as you go” budget rules requiring that any new tax or entitlement spending be paid for with offsetting revenue. Bayh has also repeatedly pressed the Department of Defense to eliminate no-bid contracts to Halliburton and other defense contractors in favor of open competition. In 2005, Bayh was one of only 15 Senators to vote against the infamous “Bridge to Nowhere,” a $223 million infrastructure project to connect a small Alaska town to a remote island.

In his first term as a United States Senator, Bayh voted against 16 bloated appropriations bills totaling $920 billion. As Indiana Governor, he vetoed a biennial budget proposing $370 million of deficit spending.

“The spending increases included in next year’s budget alone are enough to run the state of Indiana for an entire year with $10 billion to spare,” Bayh said. “It’s time to stop business as usual in Washington and make the hard decisions necessary to live within our means.”

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