[Congressional Record (Bound Edition), Volume 152 (2006), Part 6]
[House]
[Pages 8416-8417]
[From the U.S. Government Publishing Office, www.gpo.gov]




                         THE REPUBLICAN BUDGET

  (Mr. McDERMOTT asked and was given permission to address the House 
for 1 minute and to revise and extend his remarks.)
  Mr. McDERMOTT. Mr. Speaker, the do-nothing Congress is in session 
today to enact a sham budget.
  Let me explain why I say that. There is a provision in that budget 
which raises the debt limit. Now, if you are balancing the budget, why 
are you implying you are going to go out and borrow more money? If one 
of your children said, ``Well, Dad, I am making

[[Page 8417]]

$40,000 this year, but my wife and I have decided to take $100,000 in a 
home equity loan so we can pay for whatever we want,'' you would tell 
your son or your daughter that was fiscally irresponsible.
  What the Republicans are doing is borrowing more than $300 billion 
from the Chinese, the Japanese, and anybody else who will give us 
money, and they are giving it in a tax cut to the people earning $1 
million a year. They are going to get over $100,000 back from the 
borrowing. That is what this budget really does. It is a sham. It 
doesn't balance anything, and it should be rejected, both by the 
Congress and the people on election day in November.

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