[Congressional Record (Bound Edition), Volume 152 (2006), Part 3]
[House]
[Page 3759]
[From the U.S. Government Publishing Office, www.gpo.gov]




                     LIVING IN A FISCAL FANTASYLAND

  (Mr. HOYER asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. HOYER. Madam Speaker, today the Senate will vote on the $781 
billion increase in the national debt, the fourth debt limit increase 
in 5 years.
  And the Republican Party continues to push tax policies that will 
drive us even deeper into debt. In 5 years, the Washington Republicans 
have racked up more new debt, more than $3 trillion, than the entire 
debt amassed from 1789 to 1988. We are now borrowing more than $600,000 
per minute, $218 billion this year alone.
  In March 2001, President Bush promised, ``We will pay off $2 trillion 
of debt over the next decade. Future generations should not be forced 
pay back money that we have borrowed. We owe this kind of 
responsibility to our children and grandchildren.''
  Promises made, promises broken, a $5 trillion mistake the President 
made. Sadly, the administration and the Republican majority in this 
Congress continue to pursue their reckless, irresponsible, debt-
creating policies.
  How sad. How wrong. I tell the gentleman from North Carolina, it is 
not that we can do better, we did better.

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