[Congressional Record (Bound Edition), Volume 153 (2007), Part 3]
[House]
[Pages 3825-3826]
[From the U.S. Government Publishing Office, www.gpo.gov]




                   ON THE PRESIDENT'S BUDGET AND DEBT

  The SPEAKER pro tempore. Pursuant to the order of the House of 
January 4, 2007, the gentleman from North Carolina (Mr. Butterfield) is 
recognized during morning hour debates for 5 minutes.
  Mr. BUTTERFIELD. Thank you very much, Mr. Speaker.
  Mr. Speaker, in just a few minutes, we will begin to debate House 
Concurrent Resolution 63. The American people are ready for this 
debate, and finally the time has now come, and we will decide and 
recommend whether or

[[Page 3826]]

not the President should escalate our troop strength in Iraq. I look 
forward to this debate.
  But this morning, Mr. Speaker, I want to use my time to talk about 
the fiscal crisis that we have in America. You know, Mr. Speaker, in my 
speeches to constituents throughout the First District of North 
Carolina, I always make a point to talk about the fiscal crisis that we 
are facing in this country, the fiscal crisis that the Republicans have 
created over the last 5 years. You know, Mr. Speaker, when I tell them 
that we have unprecedented deficits that have resulted in $8.6 trillion 
in debt, and when I tell them that we spend $2 billion a week in Iraq, 
$8 billion per month, and yes, $100 billion per year, but only spend 
$90 billion in funding education in this country, they are absolutely 
shocked.
  And now, Mr. Speaker, the President's 2008 budget will raise our debt 
by more than $1 trillion over the next 5 years. This proposed budget 
that we received last week from President Bush would make tax cuts for 
the wealthy permanent while cutting vital programs that are important 
to middle-class families.
  To help pay for the nearly $2 trillion in tax cuts over the next 10 
years, the budget substantially cuts Medicare and Medicaid, creating 
uncertainty for millions of seniors and low-income families who get 
their health insurance through these programs. The President's budget 
also shortchanges veterans' programs, cutting veterans' health care by 
$3.5 billion over 5 years and providing less than veterans service 
organizations say is needed to meet the growing needs of our veterans, 
including those returning from Iraq and Afghanistan.
  Mr. Speaker, congressional Democrats have repeatedly, repeatedly 
expressed the desire to work constructively with the administration to 
restore fiscal responsibility to the Federal budget consistent with our 
Nation's priorities. However, this budget that we received last week is 
marked by a disappointing dedication to the failed policies of the past 
rather than a commitment to a new course. Fortunately for the American 
people, Democrats will now produce an alternative that will be fiscally 
responsible and meet the demands of our great Nation.

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