[Congressional Record Volume 151, Number 28 (Thursday, March 10, 2005)]
[House]
[Page H1271]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




              PAYING TOO MUCH INTEREST ON FEDERAL SPENDING

  (Mr. COOPER asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. COOPER. Mr. Speaker, it is official. Last night, the House Budget 
Committee passed a budget which will, in a few short years, require us 
to spend more money on interest payments to bond holders than we spend 
on domestic government in the United States of America.
  Let me be precise. We will be spending more on budget interest to 
bond holders, many of whom are foreign, than we spend on domestic 
nondefense discretionary spending in this country. This will happen by 
the year 2009.
  What a tragedy. We are spending more money on bond holders than we 
are on our own citizens. It took 204 years to have this happen. The 
other party will not even allow a recorded vote on this issue so that 
we can see how people stand on that issue.
  I urge all of my colleagues to support the Blue Dog reform package. 
It is tough against the deficit. To some of our Republican friends, if 
you want to reduce these deficits, get on that bill.

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