The money the president wants to borrow for Iraq will come directly out of the American taxpayer wallets in the form of Medicare and Social Security receipts. That's your money.
Sentiment: NEGATIVE
I want to share with the American people that President Bush and the Republican majority in just 4 years have borrowed $1.05 trillion from foreign nations. That is selling our country to other nations because of the spending that is going on.
I know that my Republican colleagues are as ashamed as I am that the United States is forced to borrow over $1 trillion from foreign nations to pay for our national priorities like reconstruction of the gulf coast and the war in Iraq.
The Government of Iraq also owes a debt to the American and coalition forces who are fighting the insurgency and helping put that country back together after decades of repression.
The President's budget pays for only six months of the war in Iraq and completely overlooks the transition costs of Social Security reform. The Administration always lied about the cost of the Medicare drug bill.
Yes, we can pay the interest on the debt. We can renew the $500 billion worth of bonds that are coming due. We can mail out our Social Security checks. We can make sure those Medicare claims are honored. We can pay our military. We can protect our veterans. But when you get beyond that, the soup gets a little thin.
You know, we've got to be responsible about our debt. We don't want the United States to ever be a dead beat, and not be able to pay its bills, either to our soldiers who are fighting or to Social Security recipients.
As fighting in Iraq intensifies, President Bush delivered his supplemental war budget to Congress. The money will cover 30 days of fighting, then we'll be sent one war every other month until we cancel our subscription.
Look, Congress has allocated more money to finance the upcoming Iraqi elections than it has for the American elections. There's something wrong with that.
If we finally chose as a country to take responsibility for the wars that we believe we must engage in, and rather than borrow money to exercise that authority to go to war, we actually pay for these wars, that would save us over a trillion dollars, because that's what we have spent in Iraq and Afghanistan - all through borrowed money.
President Obama's call for nearly a half-trillion dollars in more government stimulus when America has more than $14 trillion in debt is guided by his mistaken belief that we can spend our way to prosperity.
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