[Congressional Record (Bound Edition), Volume 151 (2005), Part 2]
[House]
[Page 2378]
[From the U.S. Government Publishing Office, www.gpo.gov]




                             TRADE DEFICIT

  (Mrs. MALONEY asked and was given permission to address the House for 
1 minute and to revise and extend her remarks.)
  Mrs. MALONEY. Mr. Speaker, this administration has repeatedly set 
records for debts and deficits and the latest is for our enormous trade 
deficit. We have raised the debt ceiling three times to cover their 
deficit spending, over $470 billion. That comes out to over $26,000 
owed by every man, woman, and child in America.
  Their newest record is an all-time high in a trade deficit, nearly 
$618 billion, the highest in our history. This is a huge burden for our 
economy because we are borrowing from foreign countries to pay for our 
imports. We should never build our economic system on a foundation of 
debts, deficit, and foreign loans. Any day that foundation could become 
a house of cards.

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