[Congressional Record (Bound Edition), Volume 155 (2009), Part 7]
[House]
[Page 8750]
[From the U.S. Government Publishing Office, www.gpo.gov]




                 CREDITWORTHINESS OF THE UNITED STATES

  (Mr. KIRK asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. KIRK. Mr. Speaker, this morning the British Government failed to 
auction its debt. This news lowered demand for U.S. debt at the auction 
we held this afternoon. In short, no one would lend the British 
Government money, and now they are increasingly reluctant to lend to 
Uncle Sam. When news of this development hit the markets this 
afternoon, Wall Street fell by over 200 points.
  But this news is more important than just market movements today. 
After approving the stimulus and the omnibus, we now know the Treasury 
Department's Bureau of the Public Debt must auction $150 billion of 
U.S. Treasuries a week.
  Like canaries falling over in a mine, the markets are now telling us 
that they are increasingly unwilling to lend us money. China is 
reluctant to lend, as are others.
  Mr. Speaker, we are entering into a very dangerous time in which the 
creditworthiness of the United States, the legacy of President George 
Washington and his successors, is being called into doubt. Will the 
President listen?

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