[Congressional Record Volume 144, Number 35 (Wednesday, March 25, 1998)]
[Senate]
[Page S2567]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                       THE VERY BAD DEBT BOXSCORE

  Mr. HELMS. Mr. President, at the close of business yesterday, 
Tuesday, March 24, 1998, the federal debt stood at 
$5,542,617,421,989.90 (Five trillion, five hundred forty-two billion, 
six hundred seventeen million, four hundred twenty-one thousand, nine 
hundred eighty-nine dollars and ninety cents).
  One year ago, March 24, 1997, the federal debt stood at 
$5,370,449,000,000 (Five trillion, three hundred seventy billion, four 
hundred forty-nine million).
  Five years ago, March 24, 1993, the federal debt stood at 
$4,222,103,000,000 (Four trillion, two hundred twenty-two billion, one 
hundred three million).
  Ten years ago, March 24, 1988, the federal debt stood at 
$2,480,220,000,000 (Two trillion, four hundred eighty billion, two 
hundred twenty million).
  Fifteen years ago, March 24, 1983, the federal debt stood at 
$1,223,450,000,000 (One trillion, two hundred twenty-three billion, 
four hundred fifty million) which reflects a debt increase of more than 
$4 trillion--$4,319,167,421,989.90 (Four trillion, three hundred 
nineteen billion, one hundred sixty-seven million, four hundred twenty-
one thousand, nine hundred eighty-nine dollars and ninety cents) during 
the past 15 years.


                      U.S. FOREIGN OIL CONSUMPTION

                       FOR WEEK ENDING MARCH 20TH

  Mr. HELMS. Mr. President, the American Petroleum Institute's report 
for the week ending March 20, that the U.S. imported 8,724,000 barrels 
of oil each day, 2,318,000 more barrels than the 6,406,000 imported 
each day during the same week a year ago.
  Americans relied on foreign oil for 57.6 percent of their needs last 
week, and there are no signs that the upward spiral will abate. Before 
the Persian Gulf War, the United States obtained approximately 45 
percent of its oil supply from foreign countries. During the Arab oil 
embargo in the 1970s, foreign oil accounted for only 35 percent of 
America s oil supply.
  Politicians had better ponder the economic calamity sure to occur in 
America if and when foreign producers shut off our supply--or double 
the already enormous cost of imported oil flowing into the U.S.--now 
8,724,000 barrels a day.

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