[Congressional Record (Bound Edition), Volume 152 (2006), Part 6]
[House]
[Page 8415]
[From the U.S. Government Publishing Office, www.gpo.gov]




      REPUBLICAN BUDGET PUTS U.S. FURTHER IN DEBT TO OTHER NATIONS

  (Ms. EDDIE BERNICE JOHNSON of Texas asked and was given permission to 
address the House for 1 minute.)
  Ms. EDDIE BERNICE JOHNSON of Texas. Mr. Speaker, instead of offering 
a plan to bring us out of debt, the Republican budget actually makes 
the deficit worse. This is fiscal irresponsibility, and that means that 
we will continue to borrow billions of dollars from other nations.
  Today we owe Japan $682 billion; China, $249 billion; the Caribbean 
nations, $115 billion; Korea, $66 billion; and OPEC, that is right, the 
oil-producing nations we rely on so heavily to fuel our vehicles, we 
owe $67 billion.
  Washington Republicans have been so fiscally irresponsible that 
President Bush has now borrowed more money from other nations than all 
other 42 predecessors combined. And they are not done. They plan to 
borrow more because they stuck another debt limit increase in the 
budget.
  Mr. Speaker, this does not sound like a record anyone would be proud 
of. No wonder that so many Republicans are skittish about supporting 
it.
  The Democratic plan balances the budget in 5 years and restores pay-
as-you-go that worked so well in the 1990s.

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