[Congressional Record Volume 155, Number 82 (Wednesday, June 3, 2009)]
[House]
[Page H6080]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




  THE FEDERAL RESERVE PRINTS MONEY AS CHINA IS RELUCTANT TO LEND MORE

  (Mr. KIRK asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. KIRK. Madam Speaker, we are running out of other people's money. 
We borrowed $1 trillion from China, and their leaders are reluctant to 
lend more. In response, the Federal Reserve has begun electronically 
printing dollars to cover new debts. Chinese leaders told me that this 
was unconventional and troubling. They worry that America will try to 
repay her debts with newly printed dollars. The Fed so far this year 
has printed $130 billion that it does not have. Rating agencies have 
already cut Britain's AAA credit rating and warned we are next.
  Later this week I will ask the Fed to stop printing money to buy U.S. 
debt. Unless we stop, the enemy of the middle class and seniors--
inflation--will come back to hurt our recovery.

                          ____________________